Carmell Announces Successful Closing of Axolotl Biologix Sale Transaction
Carmell Corporation (CTCX)
Company Research
Source: GlobeNewswire
PITTSBURGH, March 27, 2024 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (“Carmell”, the “Company”, “we”, “our”, or “us”), today announced the successful closing of the previously announced sale of its wholly owned subsidiary, Axolotl Biologix (“AxoBio”) to the initial sellers of AxoBio for 3,845,337 shares of Carmell common stock, 4,243 shares of Carmell preferred stock and cancellation of $8 million in notes payable. “The sale of AxoBio enables our exit from the tissue graft space thereby facilitating a sharper organizational focus on the launch of our skincare products beginning in March 2024 and continuing over Summer 2024,” said Rajiv Shukla, Chairman & Chief Executive Officer of Carmell. Following the sale of AxoBio, Carmell’s financial position is expected to improve as follows: $4 million drop in annualized cash burn (net of revenue) based on AxoBio’s actual January 2024 financials.$15.6 million redu
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News
- Carmell Announces Successful Closing of $3.0 Million Private PlacementGlobeNewswire
- Carmell Announces $3.0 Million Private PlacementGlobeNewswire
- Carmell Sharpens Aesthetics Focus with Execution of Definitive Agreement to Sell Axolotl Biologix SubsidiaryGlobeNewswire
- Carmell to Host Investor Webinar, “Unveiling the Secretome: On the Eve of Product Launch” Featuring Key Opinion Leaders in the Medical Aesthetics FieldGlobeNewswire
- Carmell Announces Product Development Completed for G.L.E.E. Launch in March 2024GlobeNewswire
CTCX
Sec Filings
- 5/10/24 - Form S-1
- 4/18/24 - Form SC
- 4/4/24 - Form 8-K
- CTCX's page on the SEC website