IPO - Elevai Labs Inc.

Form Type: S-1

Filing Date: 2025-02-12

Corporate Action: Ipo

Type: New

Accession Number: 000121390025012352

Filing Summary: PMGC Holdings Inc. filed a Registration Statement on Form S-1 for the proposed offer and sale of up to 969,386 shares of common stock underlying common stock purchase warrants. The company will not sell any shares nor receive proceeds from the sales made by the selling shareholders. The common stock is listed on The Nasdaq Capital Market under the symbol 'ELAB', with a last reported sales price of $1.70 per share as of the date of the filing. The registration was filed to facilitate a warrant inducement agreement dated January 27, 2025, where the exercise price of existing warrants was reduced to $2.75 per share. PMGC is characterized as a smaller reporting company and an emerging growth company, aiming to optimize financial reporting requirements. The document outlines the company’s focus on biotechnology asset acquisition and development through its subsidiaries, with specific mention of their lead asset, EL-22, which is in clinical trials related to weight loss. The asset divestiture of a prior skincare business enables the company to concentrate on broader growth opportunities in biotechnology and investment strategies.

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