Carmell Therapeutics Announces Merger With Axolotl Biologix; Axolotl Shareholders To Receive $65M In Initial Equity Value Plus Up To $75M In Milestone Equity Payments
Portfolio Pulse from Bill Haddad
Carmell Therapeutics is merging with Axolotl Biologix. Axolotl's shareholders will receive $65 million in initial equity value, plus up to $75 million in potential milestone equity payments. The payments will be structured as 12% cash and 88% in CTCX stock. Axolotl will operate as a wholly owned subsidiary of Carmell after the merger.
July 27, 2023 | 11:06 am
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Carmell Therapeutics' stock (CTCX) may see increased demand as Axolotl's shareholders receive a significant portion of their payment in CTCX stock.
The merger agreement stipulates that Axolotl's shareholders will receive a significant portion of their payment in CTCX stock. This could increase demand for CTCX shares, potentially driving up the stock price in the short term.
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IMPORTANCE 80
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