Longevity Health Holdings, Inc. (XAGE): M&A transaction — Carmell completes sale of Axolotl Biologix, expects $4M annual cash burn reduction

Longevity Health Holdings, Inc.

Sale closed March 26; consideration: 3.845M common shares, 4,243 preferred shares, cancellation of $8M notes payable.
Annualized cash burn expected to drop $4M based on AxoBio's January 2024 financials.
Total debt reduction of $15.6M ($7.6M subsidiary debt + $8M notes payable).
Tangible equity increased $7M from eliminating AxoBio's negative tangible equity.
EPS dilution reduced 29% via cancellation of 8.09M fully diluted shares; 19.25M shares outstanding post-closing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Longevity Health Holdings, Inc. completed a disposition involving Burns Ventures, LLC, H. Rodney Burns, AXO XP, LLC, Protein Genomics, LLC (collectively, the Buyers) for 3,845,337 shares of common stock, 4,243 shares of Series A Convertible Voting Preferred Stock, and cancellation of $8 million principal amount of notes payable (closed 2024-03-26).

Action: disposition
Counterparty: Burns Ventures, LLC, H. Rodney Burns, AXO XP, LLC, Protein Genomics, LLC (collectively, the Buyers)
Consideration: 3,845,337 shares of common stock, 4,243 shares of Series A Convertible Voting Preferred Stock, and cancellation of $8 million principal amount of notes payable
Closing: 2024-03-26

Exact text from the filing

LLC, a Delaware corporation (“PGEN” and together with BVLLC, Burns, and AXPLLC, collectively, the “Buyers” and each, a “Buyer”). The consideration for the Sale consisted of (i) 3,845,337 shares of the Company’s common stock, $0.0001 par value per share, and 4,243 shares of the Company’s Series A Convertible Voting Preferred Stock, $0.0001 par value per share,

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Longevity Health Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-039431

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