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$Carmell(CTCX.US$ Carmell To Sell Its Axolotl Biologix Subsidiary For 3,845,337 Shares Of Carmell Common Stock, 4,243 Shares Of Carmell Preferred Stock And Notes Payable To The Initial Sellers In The Aggregate Amount Of $8M
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TrytosaveabitOP : Following the sale of AxoBio, Carmell's financial position is expected to improve as follows:
$4 million drop in annualized cash burn (net of revenue) based on AxoBio's actual January 2024 financials.
$15.6 million reduction in debt: $7.6 million of AxoBio subsidiary level debt plus $8 million note payable related to the AxoBio acquisition.
$7 million increase in tangible equity due to elimination of AxoBio's negative tangible equity.
29% reduction in EPS dilution due to the return of 8.09 million CTCX common shares on a fully diluted basis. After closing, Carmell will have 19.25 million common shares outstanding.