Elevai Labs Inc. Announces Anticipated Name Change to PMGC Holdings Inc. and Redomicile to Nevada
Elevai Labs Inc. (Nasdaq: ELAB) announced a strategic reorganization effective December 20, 2024, including a name change to PMGC Holdings Inc. and redomiciling from Delaware to Nevada. The company will continue trading under 'ELAB' on Nasdaq, with changes effective December 23, 2024.
The reorganization reflects an expanded vision to build a portfolio of growth companies. The current portfolio includes Elevai Skincare Inc. (skincare solutions), Elevai Biosciences Inc. (biopharmaceutical developments), Elevai Research Inc. (life sciences research), and PMGC Capital (multi-strategy investment vehicle).
The move to Nevada offers benefits including a business-friendly regulatory environment, enhanced director protections, lower state franchise taxes, and flexible shareholder governance.
Elevai Labs Inc. (Nasdaq: ELAB) ha annunciato una riorganizzazione strategica efficace dal 20 dicembre 2024, che includer脿 un cambio di nome in PMGC Holdings Inc. e il trasferimento della sede da Delaware a Nevada. L'azienda continuer脿 a essere quotata con il simbolo 'ELAB' su Nasdaq, con le modifiche operative a partire dal 23 dicembre 2024.
La riorganizzazione riflette una visione ampliata per costruire un portafoglio di aziende in crescita. L'attuale portafoglio comprende Elevai Skincare Inc. (soluzioni per la cura della pelle), Elevai Biosciences Inc. (sviluppi biopharmaceutici), Elevai Research Inc. (ricerca nelle scienze della vita) e PMGC Capital (veicolo d'investimento multi-strategia).
Il trasferimento in Nevada offre vantaggi tra cui un ambiente normativo favorevole alle imprese, maggiori protezioni per gli amministratori, tasse annuali sul franchise statale pi霉 basse e una governance degli azionisti pi霉 flessibile.
Elevai Labs Inc. (Nasdaq: ELAB) anunci贸 una reorganizaci贸n estrat茅gica efectiva a partir del 20 de diciembre de 2024, que incluir谩 un cambio de nombre a PMGC Holdings Inc. y el cambio de domicilio de Delaware a Nevada. La compa帽铆a continuar谩 cotizando bajo 'ELAB' en Nasdaq, con los cambios efectivos a partir del 23 de diciembre de 2024.
La reorganizaci贸n refleja una visi贸n ampliada para construir un portafolio de empresas en crecimiento. El portafolio actual incluye Elevai Skincare Inc. (soluciones para el cuidado de la piel), Elevai Biosciences Inc. (desarrollos biofarmac茅uticos), Elevai Research Inc. (investigaci贸n en ciencias de la vida) y PMGC Capital (veh铆culo de inversi贸n de m煤ltiples estrategias).
El traslado a Nevada ofrece beneficios que incluyen un entorno regulatorio favorable para los negocios, una mayor protecci贸n para los directores, impuestos sobre franquicias estatales m谩s bajos y una gobernanza de accionistas m谩s flexible.
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Elevai Labs Inc. (Nasdaq: ELAB) a annonc茅 une r茅organisation strat茅gique qui prendra effet le 20 d茅cembre 2024, y compris un changement de nom en PMGC Holdings Inc. et un transfert de domicile du Delaware vers le Nevada. L'entreprise continuera d'锚tre cot茅e sous 'ELAB' sur Nasdaq, avec des changements effectifs 脿 partir du 23 d茅cembre 2024.
La r茅organisation refl猫te une vision 茅largie visant 脿 cr茅er un portefeuille d'entreprises en croissance. Le portefeuille actuel comprend Elevai Skincare Inc. (solutions de soins de la peau), Elevai Biosciences Inc. (d茅veloppements biopharmaceutiques), Elevai Research Inc. (recherche en sciences de la vie) et PMGC Capital (v茅hicule d'investissement multi-strat茅gies).
Le d茅m茅nagement au Nevada offre des avantages, notamment un environnement r茅glementaire propice aux affaires, une protection accrue pour lesdirecteurs, des taxes d'脡tat sur les franchises plus basses et une gouvernance des actionnaires plus flexible.
Elevai Labs Inc. (Nasdaq: ELAB) k眉ndigte eine strategische Reorganisation an, die am 20. Dezember 2024 in Kraft tritt und eine Namens盲nderung zu PMGC Holdings Inc. sowie die Verlegung des Firmensitzes von Delaware nach Nevada umfasst. Das Unternehmen wird weiterhin unter 'ELAB' an der Nasdaq gehandelt, wobei die 脛nderungen am 23. Dezember 2024 wirksam werden.
Die Reorganisation spiegelt eine erweiterte Vision wider, ein Portfolio von wachstumsorientierten Unternehmen aufzubauen. Das aktuelle Portfolio umfasst Elevai Skincare Inc. (贬补耻迟辫蹿濒别驳别-尝枚蝉耻苍驳别苍), Elevai Biosciences Inc. (biopharmazeutische Entwicklungen), Elevai Research Inc. (Forschung im Bereich Lebenswissenschaften) und PMGC Capital (Multi-Strategie-Investmentvehikel).
Der Umzug nach Nevada bietet Vorteile wie ein gesch盲ftsfreundliches regulatorisches Umfeld, verbesserte Schutzma脽nahmen f眉r Direktoren, niedrigere staatliche Franchise-Steuern und flexible Aktion盲rsf眉hrung.
- Strategic redomiciling to Nevada expected to reduce operational costs through lower state franchise taxes
- Portfolio diversification across skincare, biopharmaceuticals, research, and investment sectors
- Enhanced operational flexibility through Nevada's business-friendly regulatory framework
- None.
Insights
This corporate restructuring unveils a significant strategic pivot. The transformation from Elevai Labs to PMGC Holdings marks a fundamental shift from a focused biotech entity to a diversified holding company structure. The redomiciliation to Nevada brings tangible benefits - reduced franchise taxes and enhanced director protections that typically save companies
The restructured portfolio reveals sophisticated diversification: Elevai Skincare maintains the core regenerative medicine focus, while PMGC Capital's addition signals an expansion into financial services and alternative investments. This hybrid model resembles successful conglomerates like Berkshire Hathaway, potentially allowing for internal capital allocation optimization and reduced dependence on external funding.
The strategic expansion beyond pure biotech into a holding company structure could provide better risk management through portfolio diversification while maintaining upside exposure to the high-growth potential of their regenerative medicine assets. This structure typically enables more flexible capital deployment and tax-efficient operations.
The redomiciliation to Nevada represents a shrewd legal and financial maneuver. Nevada's corporate law framework offers significant advantages over Delaware, including stronger protection against hostile takeovers and enhanced director/officer liability shields. The state's business judgment rule provides broader protection for board decisions, particularly valuable for a holding company structure engaging in diverse investments and acquisitions.
Nevada's absence of state corporate income tax and lower franchise fees typically results in
This legal restructuring positions PMGC Holdings with enhanced operational autonomy while maintaining strong shareholder protections - a balanced approach that could prove valuable in future M&A activities or corporate transactions.
NEWPORT BEACH, Calif., Dec. 20, 2024 (GLOBE NEWSWIRE) -- PMGC Holdings Inc. (formerly known as Elevai Labs Inc.) (Nasdaq: ELAB) (before and after the redomestication, the 鈥淐ompany鈥� or 鈥渨e鈥�) announced today that it plans to effectuate a strategic reorganization effective on December 20, 2024. This reorganization will include changing the Company鈥檚 name from Elevai Labs Inc. to PMGC Holdings Inc. and redomiciling from Delaware to Nevada. After this reorganization, the Company will continue to trade on The Nasdaq Stock Market聽(鈥淣asdaq鈥�) under the ticker symbol 鈥淓LAB.鈥澛燭he redomestication and name change will be effective on Nasdaq at the opening of business on December 23, 2024.
The Company鈥檚 name change reflects its expanded vision and commitment to building a portfolio of operating companies and assets with significant growth potential. As PMGC Holdings Inc. (鈥淧MGC Holdings鈥�), the Company will concentrate on enhancing operational efficiencies across its existing entities, pursuing synergistic acquisitions, and considering strategic divestitures of assets or companies that are underperforming or do not align with its long-term strategy. In doing so, the Company aims to reduce costs, optimize returns, and enhance shareholder value.
Benefits of Redomiciling to Nevada
The Company鈥檚 decision to redomicile from Delaware to Nevada aligns with its mission to streamline operations and create a more efficient legal and governance framework. Nevada offers several legal benefits, including:
- Business-Friendly Regulatory Environment: Nevada provides a modern and flexible corporate law framework that supports growth-oriented businesses like PMGC Holdings Inc., with provisions designed to reduce legal and operational complexities.
- Director and Officer Protections: Nevada statutes offer robust indemnification and liability protection for directors and officers, promoting confident leadership and decision-making.
- Cost Efficiency: Redomiciling to Nevada lowers state franchise tax obligations and other regulatory fees compared to those of Delaware, which the Company believes will result in significant long-term cost savings for the Company and its shareholders.
- Flexibility in Shareholder Governance: Nevada law provides flexibility in shareholder governance, including provisions for corporate structuring and amendments, which align well with PMGC Holdings鈥� diversified holding company strategy.
Current Portfolio
The portfolio consists of the following key subsidiaries, representing the Company鈥檚 commitment to innovation and shareholder value creation:
- Elevai Skincare Inc. Specializing in physician-dispensed skincare solutions powered by its proprietary Precision Regenerative Exosome Technology鈩� (PREx鈩�).
- Elevai Biosciences Inc. Focused on biopharmaceutical advancements, including developing IND-ready treatments for obesity and muscle preservation, EL-22 and EL-32.
- Elevai Research Inc. Used to conduct research in life sciences, focusing on research and development in Canada, supported by grants and strategic partnerships.
- PMGC Capital LLC. A multi-strategy investment vehicle engaging in investing, lending, and seeking diversified opportunities across various markets. PMGC Capital LLC invests in a wide range of assets, from equities to real assets and alternatives, provides loans to promising businesses, and capitalizes on opportunistic strategies, which include distressed assets, special situations, and emerging market opportunities. PMGC Capital LLC鈥檚 goal is to achieve superior risk-adjusted returns by balancing traditional investments with innovative, opportunistic ventures, thereby offering both growth potential and stability through a diversified portfolio.
The Company鈥檚 streamlined reorganization positions PMGC Holdings Inc. for sustainable growth and operational excellence as a diversified holding company committed to maximizing shareholder value.
Effective as of the redomestication, the Company鈥檚 new parent company website will be: .
About Elevai Labs Inc. (name change to be made to PMGC Holdings Inc. following Redomestication)
Elevai Labs Inc. (name change to be made to PMGC Holdings Inc. following redomestication) PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of four wholly owned subsidiaries: Elevai Skincare Inc., Elevai Biosciences Inc., Elevai Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit聽
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as 鈥渂elieves,鈥� 鈥渆xpects,鈥� 鈥減lans,鈥� 鈥減otential,鈥� 鈥渨ould鈥� and 鈥渇uture鈥� or similar expressions such as 鈥渓ook forward鈥� are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC Holdings鈥� filings with the United States Securities and Exchange Commission (鈥淪EC鈥�), including the 鈥淩isk Factors鈥� section of the Company鈥檚 Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 29, 2024, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC鈥檚 web site at聽. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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FAQ
When will ELAB's name change from Elevai Labs to PMGC Holdings become effective?
Will ELAB's stock symbol change after the redomiciliation to Nevada?
What are the main subsidiaries in PMGC Holdings' (ELAB) portfolio?
What financial benefits will ELAB gain from redomiciling to Nevada?
What is PMGC Capital 's investment strategy within ELAB's portfolio?
