PMGC Holdings Inc. announced that it has terminated the non-binding letter of intent, originally dated June 9, 2025, to acquire a U.S.-based electronics manufacturing company. The decision comes after a strategic review and direction from its Board of Directors, leading PMGC to focus its merger and acquisition efforts on CNC machine shops serving the aerospace, defense, and industrial markets. Additionally, PMGC disclosed a pending transaction involving the acquisition of a profitable U.S.-based CNC precision machining company, which specializes in complex aerospace and defense components. This target company generated approximately $4.5 million in revenue and $500,000 in adjusted EBITDA in 2024. The transaction is subject to due diligence and customary closing conditions.
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