24/7 Market News Snapshot 24 December, 2024 – Carmell Corporation Common Stock (NASDAQ:CTCX)

December 24, 2024

DENVER, Colo., 24 December, 2024 (247marketnews.com) – (NASDAQ:CTCX) are discussed in this article.
Carmell Corporation’s Common Stock (CTCX) is currently experiencing significant momentum, trading at $0.432 in the pre-market session, a remarkable 91.49% increase from the previous close of $0.226. This surge reflects a surge in investor confidence and interest, evidenced by a substantial trading volume of 15.18 million shares, suggesting strong market enthusiasm surrounding the stock.

In tandem with this positive market performance, Carmell Corporation has announced a strategic securities purchase agreement that will enhance its financial position and growth prospects. The agreement entails the issuance and sale of 8,065,210 shares of common stock alongside an equivalent number of five-year warrants, priced at $0.23 per share. The initiative is expected to generate gross proceeds of approximately $1.85 million, which will bolster the Company’s innovative bio-aesthetics product pipeline focused on enhancing skin and hair health.

Chairman Rajiv Shukla emphasized the importance of this investment, stating, “We are happy to announce an additional round of investment from existing and new investors to support the continued commercial build-out of our revolutionary bio-aesthetics product pipeline.” Following the completion of this transaction, Carmell is projected to have around 29 million shares of common stock outstanding.

The attached warrants present investors with the opportunity to acquire shares at the same price over the next five years, which could potentially raise an additional $1.85 million if fully subscribed. The closing of this private placement is contingent upon customary conditions, demonstrating the Company’s commitment to prudent financial management.

Carmell continues to leverage its proprietary Carmell Secretome™, a groundbreaking formulation derived from allogeneic human platelets, to deliver effective cosmetic solutions without harmful chemicals. This infusion of capital positions Carmell to advance its product development and explore new opportunities in the evolving bio-aesthetics industry.

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