Carmell Corporation announces $3M private placement

Carmell Corporation entered into a securities purchase agreement with new and existing investors for the issuance and sale of approximately 1,333,333 shares of its common stock in a private placement at a price of $2.25 per common share for aggregate gross proceeds of 3 million dollars before deducting offering expenses. The Chief Executive Officer of the Company participated in the Private Placement at a price of $2.88 per common share, which was the closing sale price of its common stock on the Nasdaq Capital Market on April 3, 2024. Following the Closing of the Private Placement, Carmell will have approximately 20.58 million common shares outstanding. Brookline Capital Markets, a division of Arcadia Securities, LLC, served as the exclusive placement agent for the private placement transaction.