Elevai Labs, Inc., a medical aesthetic company specializing in physician-dispensed skincare, today announced the pricing of its initial public offering. The Offering consists 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 offering expenses. The shares of common stock have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on November 21, 2023, under the ticker symbol “ELAB”.
The Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 225,000 shares of common stock at the public offering price, less underwriting discounts, to cover over-allotment, if any. The Offering is expected to close on or about November 24, 2023, subject to the satisfaction of customary closing conditions.
The Offering is being conducted on a firm commitment basis. Univest Securities, LLC (“Univest”) and Webull Financial, LLC (“Webull”) are acting as co-underwriters for the Offering. Ortoli Rosenstadt LLP is acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the underwriters in connection with the Offering.
A registration statement on Form S-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-274755) and was declared effective by the SEC on November 13, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained by email at info@univest.us, or by calling +1 (212) 343-8888 and from Webull at customerservices@webull.us or by calling 1-888-828-0618. In addition, copies of the final prospectus relating to the Offering may be obtained, when available, via the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation, or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
