Why Biotechnology Company Carmell Shares Are Seeing Blue Skies Tuesday?

Carmell Corporation CTCX shares are trading higher after it entered into a securities purchase agreement with new and existing investors.

The agreement involves the issuance and sale of 8,065,210 shares of common stock and an equal number of five-year warrants, both priced at $0.23 per share, in a private placement.

The transaction is expected to generate gross proceeds of $1.85 million before offering expenses and fees.

If the warrants are exercised, Carmell could receive an additional $1.85 million.

The Private Placement was priced slightly above CTCX’s closing price on Dec. 23, 2024.

Following the closing of the Private Placement, Carmell Corporation will have approximately 29 million shares of common stock outstanding.

The warrants can be exercised starting the trading day after the Stockholder Approval Date and continue until the fifth anniversary of the warrant issue date.

The warrants allow for the purchase of up to 8.1 million shares of Carmell’s common stock at an exercise price of $0.23 per share.

The closing of the Private Placement is subject to customary conditions.

Price Action: CTCX shares are up 20% at $0.27 at last check Tuesday.

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