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PMGC Holdings Inc. (NASDAQ:ELAB), a pharmaceutical preparations company, announced on Monday that it has successfully completed transactions under a warrant inducement agreement, resulting in gross proceeds of $1.94 million. This move, detailed in an 8-K filing with the Securities and Exchange Commission (SEC), involved the exercise of warrants by certain holders which had been previously reported on January 27, 2025.
According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 3.86x, though it has been rapidly burning through cash reserves.
The transactions, known as the Warrant Inducement Transactions, allowed PMGC Holdings to raise capital before expenses were deducted. The company’s financial advisor and exclusive warrant inducement agent, Univest Securities, LLC, received $155,714 in compensation, which equates to 7% of the total proceeds from the transactions. Additionally, Univest was reimbursed $10,000 for legal fees incurred during the process. The capital raise comes at a crucial time, as InvestingPro analysis shows the company has posted negative earnings of -$61.97 per share in the last twelve months, despite maintaining impressive gross profit margins of 71.15%.
PMGC Holdings, formerly known as Elevai Labs Inc. and Reactive Medical (TASE:PMCN) Labs Inc., is incorporated in Nevada with its executive offices located in Newport Beach, California. The company’s common stock is listed on The Nasdaq Stock Market under the ticker symbol ELAB.
The filing did not disclose the specific terms of the exercised warrants, nor did it elaborate on how the company plans to use the proceeds from the transaction. However, such capital raises are typically aimed at funding ongoing operations, research and development, or other corporate activities.
This report is based on a press release statement and the recent SEC filing by PMGC Holdings Inc. Investors are advised to review the full details of the 8-K filing for a comprehensive understanding of the transactions and their terms.
In other recent news, PMGC Holdings has been making significant moves. The company successfully raised $1.9 million through the exercise of warrants. PMGC Holdings demonstrated a gross profit margin of 71.15% and revenue growth of 112.17% in the past year. The company has achieved full compliance with Nasdaq’s minimum bid price requirement. PMGC Holdings also rebranded two of its wholly-owned subsidiaries, Elevai Research Inc. and Elevai Biosciences, Inc., now known as PMGC Research Inc. and Northstrive Biosciences Inc., respectively.
Additionally, the company experienced leadership changes with Graydon Bensler assuming the CEO role at PMGC Research Inc., and Braeden Lichti stepping in as Chairman. PMGC Holdings also completed its reincorporation from Delaware to Nevada. Furthermore, PMGC Holdings’ subsidiary, Elevai Biosciences, is preparing for a pre-Investigational New Drug meeting with the U.S. Food and Drug Administration for its novel obesity treatment, EL-22.
In terms of acquisitions, Carmell Corporation purchased assets from PMGC Holdings’ subsidiary, Elevai Skincare Inc., for approximately $1.1 million. This acquisition includes Elevai’s skincare and haircare business, which has a trailing twelve-month revenue of about $2.5 million.
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