PITTSBURGH, April 04, 2024 (GLOBE NEWSWIRE) — Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health, today announced that it entered into a securities purchase agreement with new and existing investors for the issuance and sale of approximately 1,333,333 shares of its common stock in a private placement at a price of $2.25 per common share for aggregate gross proceeds of 3 million dollars before deducting offering expenses.
The Chief Executive Officer of the Company participated in the Private Placement at a price of $2.88 per common share, which was the closing sale price of its common stock on the Nasdaq Capital Market on April 3, 2024. Following the Closing of the Private Placement, Carmell will have approximately 20.58 million common shares outstanding.
Brookline Capital Markets, a division of Arcadia Securities, LLC, served as the exclusive placement agent for the private placement transaction.
About Carmell
Carmell is a bio-aesthetics company that utilizes the Carmell SecretomeTM to support skin and hair health. The Carmell SecretomeTM consists of a potent cocktail of growth factors and proteins extracted from allogeneic human platelets sourced from U.S. Food and Drug Administration-approved tissue banks. Over the past 7 years, the Company has extensively tested the technology underpinning the Carmell SecretomeTM. Additionally, the Company has developed a novel microemulsion formulation that enables delivery of lipophilic and hydrophilic ingredients without relying on the Foul FourteenTM, 14 potentially harmful excipients that are commonly used by other companies to impart texture, stability, and other desirable physicochemical attributes to cosmetic products. Carmell’s microemulsion formulations do not utilize mineral or vegetable oils and are designed to be non-comedogenic. The Company is also developing a line of men’s products and a line of topical haircare products. All products are tailored to meet the demanding technical requirements of professional care providers and discerning retail consumers. For more information, visit www.carmellcosmetics.com
