Carmell Therapeutics to sell 8.065M shares at 23c in private placement

Carmell entered into a securities purchase agreement with new and existing investors for the issuance and sale of 8,065,210 shares of its common stock and an equal number of five-year warrants, both priced at $0.23 per share, in a private placement for aggregate gross proceeds of $1.85 million before deducting offering expenses and fees. The warrants, if exercised, will result in an additional $1.85 million in proceeds to Carmell. The Private Placement was priced at a slight premium to the CTCX closing price on December 23, 2024. Following the closing of the Private Placement, Carmell will have approximately 29 million shares of common stock outstanding. The warrants may be exercised on the trading day immediately following the Stockholder Approval Date and any time thereafter until the fifth anniversary of the warrant issue date to purchase up to an aggregate of 8,065,210 shares of CTCX common stock at an exercise price of $0.23 per share. The closing of the Private Placement is subject to customary closing conditions. Brookline Capital Markets, a division of Arcadia Securities served as the exclusive placement agent for the Private Placement.