Carmell Sharpens Aesthetics Focus with Execution of Definitive Agreement to Sell Axolotl Biologix Subsidiary
Carmell Corporation (CTCX)
Company Research
Source: GlobeNewswire
PITTSBURGH, March 20, 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 execution of a definitive agreement to sell 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 notes payable to the initial sellers in the aggregate amount of $8 million. “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, Chief Executive Officer of Carmell. In August 2023, Carmell acquired AxoBio for $65 million, which consisted of unsecured promissory notes in the aggregate amount of $8 million and $57 million in CTCX common and preferred stock (8.09 million fully
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CTCX
News
- Carmell Announces Successful Closing of $3.0 Million Private PlacementGlobeNewswire
- Carmell Announces $3.0 Million Private PlacementGlobeNewswire
- Carmell Announces Successful Closing of Axolotl Biologix Sale TransactionGlobeNewswire
- 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