M&A
confidence high
sentiment positive
materiality 0.75
Alpha Healthcare provides Carmell merger update; LOI for commercial stage allograft company with $50M revenue
Longevity Health Holdings, Inc.
- Shareholder vote for Carmell merger scheduled July 11, 2023; redemption deadline July 7.
- Non-binding LOI to acquire a commercial stage allograft company with ~$50M TTM revenue and ~$5M EBITDA.
- Deal terms: $65M initial equity ($8M cash + $57M stock) plus up to $75M milestone payments (12% cash, 88% stock); 12-month lockup.
- Carmell's pipeline: Phase 2 tibia fracture trial (Fast Track), FDA agreed HEAL II start; foot/ankle fusion program.
- Post-merger ticker CTCX; plan to build leading player in aesthetics and orthopedics through roll-ups.