UPDATE: Consideration Includes ~$1.1M In Carmell Common Stock, ~$57K In Cash Upon Sale Of Specified Inventory And Contingent Earnout
Carmell Therapeutics Corporation - Class A Common Stock -13.70% Post
Carmell Therapeutics Corporation - Class A Common Stock CTCX | 0.53 0.53 | -13.70% +0.26% Post |
The purchase consideration for the Acquisition is as follows:
- Approximately $1.1 million in Carmell common stock at the closing of the Acquisition (the "Closing");
- Approximately $57,000 in cash upon the sale of specified inventory existing as of the Closing;
- Contingent earnout consideration consisting of:
- 5% of net sales from Elevai's existing products paid annually during the 5-year period following the Closing, and
- a one-time milestone payment of $500,000 if Elevai's hair and scalp products achieve $500,000 in net revenue within 24 months following the Closing; and
- Carmell's assumption of contractual liabilities and trade payables of Elevai at the Closing.
