Elevai Labs Inc. Announces Name Change to PMGC Holdings Inc. and Redomicile to Nevada
PMGC Holdings Inc. (Nasdaq: ELAB), formerly Elevai Labs Inc., announced a strategic reorganization including a name change and redomiciliation from Delaware to Nevada, effective December 23, 2024. The company will maintain its ELAB ticker on Nasdaq. The restructuring reflects an expanded vision to build a portfolio of growth-focused companies.
The portfolio includes four key subsidiaries: Elevai Skincare Inc. (physician-dispensed skincare solutions), Elevai Biosciences Inc. (biopharmaceutical developments), Elevai Research Inc. (life sciences research), and PMGC Capital (multi-strategy investment vehicle). The Nevada redomiciliation aims to benefit from a business-friendly regulatory environment, enhanced director protections, reduced state franchise taxes, and flexible shareholder governance.
PMGC Holdings Inc. (Nasdaq: ELAB), precedentemente Elevai Labs Inc., ha annunciato una riorganizzazione strategica che include un cambio di nome e un trasferimento della sede legale dal Delaware al Nevada, efficace dal 23 dicembre 2024. L'azienda manterr脿 il suo ticker ELAB su Nasdaq. Questa ristrutturazione riflette una visione ampliata per costruire un portafoglio di aziende orientate alla crescita.
Il portafoglio comprende quattro filiali chiave: Elevai Skincare Inc. (soluzioni per la cura della pelle fornite da medici), Elevai Biosciences Inc. (sviluppi biotecnologici), Elevai Research Inc. (ricerche nelle scienze della vita) e PMGC Capital (veicolo d'investimento multi-strategia). Il trasferimento della sede legale in Nevada mira a beneficiare di un ambiente normativo favorevole alle imprese, di una maggiore protezione per i direttori, di tasse sulle franchigie statali ridotte e di una governance flessibile per gli azionisti.
PMGC Holdings Inc. (Nasdaq: ELAB), anteriormente Elevai Labs Inc., anunci贸 una reestructuraci贸n estrat茅gica que incluye un cambio de nombre y un traslado de domicilio del Delaware a Nevada, efectivo el 23 de diciembre de 2024. La empresa mantendr谩 su ticker ELAB en Nasdaq. La reestructuraci贸n refleja una visi贸n ampliada para construir un portafolio de empresas enfocadas en el crecimiento.
El portafolio incluye cuatro subsidiarias clave: Elevai Skincare Inc. (soluciones de cuidado de la piel dispensadas por m茅dicos), 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 multi-estrategia). El traslado a Nevada tiene como objetivo aprovechar un entorno regulatorio favorable a los negocios, protecciones mejoradas para los directores, reducci贸n de impuestos de franquicia estatales y una gobernanza flexible para los accionistas.
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PMGC Holdings Inc. (Nasdaq: ELAB), anciennement Elevai Labs Inc., a annonc茅 une r茅organisation strat茅gique incluant un changement de nom et un transfert du Delaware vers le Nevada, effectif le 23 d茅cembre 2024. L'entreprise conservera son symbole ELAB sur le Nasdaq. Cette restructuration refl猫te une vision 茅largie pour construire un portefeuille d'entreprises ax茅es sur la croissance.
Le portefeuille comprend quatre filiales cl茅s: Elevai Skincare Inc. (solutions de soins de la peau prescrites par des m茅decins), 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gie). Le transfert de domicile au Nevada vise 脿 b茅n茅ficier d'un environnement r茅glementaire favorable aux entreprises, de protections accrues pour les administrateurs, de la r茅duction des taxes de franchise d'茅tat et d'une gouvernance flexible pour les actionnaires.
PMGC Holdings Inc. (Nasdaq: ELAB), fr眉her Elevai Labs Inc., gab eine strategische Neuorganisation bekannt, die einen Namenswechsel und eine Verlegung des Sitzes von Delaware nach Nevada umfasst, die am 23. Dezember 2024 in Kraft tritt. Das Unternehmen wird sein ELAB-Symbol an der Nasdaq beibehalten. Die Umstrukturierung spiegelt eine erweiterte Vision wider, ein Portfolio wachstumsorientierter Unternehmen aufzubauen.
Das Portfolio umfasst vier wichtige Tochtergesellschaften: Elevai Skincare Inc. (von 脛rzten verschriebene Hautpflege-L枚sungen), Elevai Biosciences Inc. (biopharmazeutische Entwicklungen), Elevai Research Inc. (Forschung in den Lebenswissenschaften) und PMGC Capital (Multi-Strategie-Investmentvehikel). Der Umzug nach Nevada zielt darauf ab, von einem unternehmensfreundlichen regulatorischen Umfeld, verbesserten Schutz f眉r Vorstandsmitglieder, reduzierten staatlichen Franchise-Steuern und flexibler Aktion盲rs-Governance zu profitieren.
- Strategic redomiciliation to Nevada expected to reduce franchise tax obligations and regulatory fees
- Portfolio diversification across skincare, biopharmaceuticals, research, and investment sectors
- Enhanced operational efficiency through streamlined legal and governance framework
- None.
Insights
The transition from Delaware to Nevada offers tangible benefits:
- Reduced franchise tax obligations and regulatory fees create immediate cost savings
- Enhanced director liability protection enables more aggressive growth strategies
- Greater flexibility in corporate governance supports future M&A activities
The reorganization into PMGC Holdings signals a shift from a pure biotech play to a diversified holding company model. The creation of PMGC Capital as an investment vehicle, alongside existing biotech operations, suggests a dual-track strategy: maintaining the core skincare/biotech business while pursuing new revenue streams through strategic investments. This structure provides better capital allocation flexibility and risk diversification.
The timing and execution of this restructuring hints at potential upcoming strategic moves - likely acquisitions or divestitures - as the company positions itself as an active portfolio manager rather than a single-focus operator.
This corporate transformation has significant implications for the company's financial structure and valuation metrics. The Nevada redomiciliation provides immediate cost benefits through lower state taxes and regulatory expenses, potentially improving operating margins. The formation of PMGC Capital introduces a new revenue stream through investment activities, which could help smooth out the typically volatile biotech revenue patterns.
The holding company structure offers enhanced financial flexibility:
- Improved ability to raise capital through multiple subsidiaries
- Better risk management through portfolio diversification
- More efficient tax planning opportunities
However, investors should note that this model typically trades at a holding company discount compared to pure-play businesses. The market will need to adjust its valuation metrics from biotech-specific multiples to those more appropriate for a diversified holding company. This could lead to some near-term price volatility as the market reprices the stock under the new structure.
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 completed a strategic reorganization. This reorganization included changing the Company鈥檚 name from Elevai Labs Inc. to PMGC Holdings Inc. and redomiciling from Delaware to Nevada. Upon this reorganization, the Company will continue to trade on The Nasdaq Stock Market (鈥淣asdaq鈥�) under the ticker symbol 鈥淓LAB.鈥� The 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 is: .
About PMGC Holdings Inc.
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 https://www.pmgcholdings.com.
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.
IR Contact:
IR@pmgcholdings.com
FAQ
When will PMGC Holdings Inc. (ELAB) name change and redomiciliation become effective?
What are the main benefits of ELAB's redomiciliation to Nevada?
What subsidiaries are included in PMGC Holdings' (ELAB) portfolio?
Will PMGC Holdings (ELAB) maintain its Nasdaq listing and ticker symbol?
