11.27.23
Elevai Labs, Inc.—a medical aesthetic company specializing in physician-dispensed skincare products—closed its previously announced initial public offering of 1,500,000 shares of common stock at a public offering price of $4.00 per share for total gross proceeds of $6,000,000, before deducting underwriting discounts and other offering expenses. The shares of common stock began trading on the Nasdaq Capital Market on November 21, 2023, under the ticker symbol "ELAB."
The California-based medical aesthetic company intends to use the proceeds for business expansion and to broaden the sales reach, strengthen the market position, and expand both the scope of product offerings and working capital.
Univest Securities, LLC and Webull Financial, LLC were acting as co-underwriters for the Offering. Ortoli Rosenstadt LLP was acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC was acting as U.S. counsel to the underwriters in connection with the Offering.
Elevai develops topical skincare technologies for the medical dispense market. Products were developed under a proprietary “source to skin” technology platform called PREx (Precision Regenerative Exosome Technology). PREx is based on more than 15 years of research and development by stem cell expert and biochemical engineer, Dr. Jordan Plews.
The Elevai E-Series products—Empower and Enfinity—were developed to provide both post-treatment skin support and ongoing daily aftercare. Both products contain exosomes. The patent pending Elevai Exosome is the hero ingredient in all Elevai products.
Elevai Skincare products are available in dermatology, plastic surgery, and professional medical spa locations across the US, Canada, and other international markets. We expect continued growth across all markets in 2023-24.
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The California-based medical aesthetic company intends to use the proceeds for business expansion and to broaden the sales reach, strengthen the market position, and expand both the scope of product offerings and working capital.
Univest Securities, LLC and Webull Financial, LLC were acting as co-underwriters for the Offering. Ortoli Rosenstadt LLP was acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC was acting as U.S. counsel to the underwriters in connection with the Offering.
Elevai develops topical skincare technologies for the medical dispense market. Products were developed under a proprietary “source to skin” technology platform called PREx (Precision Regenerative Exosome Technology). PREx is based on more than 15 years of research and development by stem cell expert and biochemical engineer, Dr. Jordan Plews.
The Elevai E-Series products—Empower and Enfinity—were developed to provide both post-treatment skin support and ongoing daily aftercare. Both products contain exosomes. The patent pending Elevai Exosome is the hero ingredient in all Elevai products.
Elevai Skincare products are available in dermatology, plastic surgery, and professional medical spa locations across the US, Canada, and other international markets. We expect continued growth across all markets in 2023-24.
Additional Reading
Exosomes in Regenerative Skin and Hair Therapy
Kline Group Identifies Emerging Developments in Professional Skin Care