ELEVAI Labs, Inc. Announces Closing of $6,000,000 Initial Public Offering

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[{"type":"text","content":"NEWPORT BEACH, Calif., Nov. 24, 2023 /PRNewswire/ -- ELEVAI LABS, INC. (Nasdaq: ELAB), a medical aesthetic company specializing in physician-dispensed skincare, today announced the closing of 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 \"Offering\"). The shares of common stock began trading on the Nasdaq Capital Market 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.\n\n \n \n \n \n \n \n\n \nUnivest Securities, LLC (\"Univest\") and Webull Financial, LLC (\"Webull\") 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.\nThe Company intends to use the proceeds from the Offering for business expansion and to broaden the sales reach, strengthen the market position, and expand both the scope of product offerings and working capital.\nA 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 [email protected], or by calling +1 (212) 343-8888 and from Webull at [email protected] or by calling 1-888-828-0618. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.\nThis 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 qu...

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