Elevai Labs Inc (ELAB)

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…..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.
As part of the Acquisition, Carmell expects to acquire the following assets of Elevai:
• Product portfolio with trailing twelve-month revenue of approximately $2.5 million;
• Commercial and product development team;
• Finished and work-in-process inventory of approximately $1.0 million; and
• Accounts receivable of approximately $0.03 million.
Said Mr. Rajiv Shukla, Chairman of Carmell, “This acquisition will integrate one of the newest advances in stem cell derived exosome technology into the Carmell platform, further cementing our status as the home of the best bio-aesthetic skincare science, Built by Biology just as Nature intended.”….,,