Elevai Labs Inc. Announces Pricing Of $8M Public Offering Of 28,571,425 Shares Of Common Stock (Or Pre-Funded Warrants In Lieu Of Shares Of Common Stock). Each Share Of Common Stock Or Pre-Funded Warrant Will Be Sold With One Series A Warrant To Purchase One Share Of Common Stock At An Exercise Price Of $0.38/Share
Portfolio Pulse from Benzinga Newsdesk
Elevai Labs, Inc. (NASDAQ:ELAB) has announced an $8 million public offering of 28,571,425 shares of common stock or pre-funded warrants, each paired with Series A and B warrants. The offering aims to raise funds for general corporate purposes and is expected to close by September 24, 2024.
September 23, 2024 | 12:47 pm
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Elevai Labs is conducting an $8M public offering of shares and warrants, which may dilute existing shares but provide capital for growth. The offering is expected to close by September 24, 2024.
The public offering involves issuing new shares, which can lead to dilution of existing shares, potentially putting downward pressure on the stock price in the short term. However, the raised capital could support future growth, partially offsetting the negative impact.
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