Carmell Expects to Raise $1.85 Million From Private Placement
MT Newswires Live
Dec 24, 2024
Carmell (CTCX) said Tuesday it agreed to a private placement with new and existing investors of about 8.1 million shares and an equal number of warrants, both priced at $0.23 each per share, for expected gross proceeds of $1.85 million.
The company said the private placement, priced slightly above Carmell's Dec. 23 closing share price, could generate an additional $1.85 million if all warrants are exercised. The warrants become exercisable after stockholder approval and remain valid for five years, it added.
Upon closing, Carmell will have about 29 million outstanding shares, the company said.
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