Elevai Labs, which makes physician-dispensed skincare products, raised $6 million by offering 1.5 million shares at $4, the low end of the range of $4 to $6.
Elevai Labs is a physician-dispensed skincare company, which refers to a sales channel where cosmetics products are exclusively sold in physician clinics or medically directed businesses by licensed medical professionals or that have a medical professional on staff, such as medical spas. Using patent-pending stem cell processing technology, the company has integrated the use of stem cell exosomes into its initial product line, which consists of two post-skincare procedure care products that target the face and neck, and upper chest regions.
Elevai Labs plans to list on the Nasdaq under the symbol ELAB. Univest Securities and Webull Financial acted as joint bookrunners on the deal.
