NEWPORT BEACH, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Elevai Labs Inc. ELAB (Elevai" or the "Company") announced today it will implement a 1-for-200 reverse stock split ("Reverse Stock Split") of its common stock, which will be effective at midnight on November 27, 2024. This initiative aligns with the Company's efforts to meet Nasdaq's minimum bid price requirement of $1.00 per share under Listing Rule 5550(a)(2). Key Details of the Reverse Stock Split: - Conversion Ratio: Every 200 shares of issued and outstanding common stock will be automatically consolidated into one share, with no action required from shareholders. - Fractional Shares: Shareholders entitled to fractional shares will receive one full share for each fractional portion. - Updated Stock Identifier: While the trading symbol remains "ELAB", the common stock now carries a new CUSIP number (28622K 203). - Equity Adjustments: Outstanding stock awards, options, and the equity incentive plan have been adjusted proportionally to reflect the new share structure. Purpose of the Reverse Stock Split: The Reverse Stock Split is a critical step in ensuring compliance with Nasdaq's listing requirements, allowing Elevai to maintain its presence on the Nasdaq Capital Market. A continued listing enhances the Company's visibility, strengthens investor confidence, and positions Elevai for future growth. Impact on Shareholders: - No Immediate Action Required: Shareholders holding shares through a broker or in "street name" will see their holdings updated automatically. - Certificate Holders: Shareholders with physical certificates can exchange them, if desired, through VStock Transfer, LLC, which will provide detailed instructions. - Share Value: The Reverse Stock Split does not impact the overall value of shareholder equity; it only reduces the number of shares outstanding while proportionally adjusting the share price. Impact on our Common Stock: - Post Reverse Stock Split there will be approximately 3.07 million shares of common stock issued and outstanding Looking Ahead: "The reverse stock split is a required measure to preserve Elevai's Nasdaq listing and set the stage for our continued progress in innovation and shareholder value creation," said Graydon Bensler, Chief Executive Officer of Elevai. "We are optimistic about the future and committed to executing our growth strategy." For additional information, please refer to Elevai's full Form 8-K filing available regarding the Reverse Stock Split, filed on November 22, 2024, on the SEC's website, or contact Elevai directly at IR@elevailabs.com . About Elevai Labs, Inc. Elevai Labs Inc. ELAB specializes in medical aesthetics and biopharmaceutical drug development, focusing on innovations for skin aesthetics and treatments tied to obesity and metabolic health. The Company operates a diverse portfolio of three wholly owned subsidiaries across the medical aesthetics and biopharmaceutical sectors, Elevai Skincare Inc., Elevai Biosciences Inc., and Elevai Research Inc. For more information please visit www.elevailabs.com . Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential," "would" and "future" or similar expressions such as "look forward" 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 Elevai's filings with the United States Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of the Company's 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's web site at www.sec.gov . 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@ElevaiLabs.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
FORT MYERS, Fla. (AP) — MiLaysia Fulwiley’s 14 points led seven players in double figures as fourth-ranked South Carolina overwhelmed Purdue 99-51 in the Women’s Fort Myers Tip-Off on Saturday. Ashlyn Watkins and Tessa Johnson added 13 points, Chloe Kitts and Bree Hall had 12, Joyce Edwards 11 and Maddy McDaniel 10 for the Gamecocks (7-1). Purdue’s Destini Lombard led all scorers with 24 points. At one point, Purdue (4-3) and South Carolina (7-1) were tied 10-10. But coming out of a timeout, the Gamecocks went on a 13-2 run. South Carolina kept extending the lead. The Gamecocks led 53-18 at halftime and 78-31 after three quarters. No. 10 MARYLAND 66, GEORGE MASON 56 ANNAPOLIS, Md. (AP) — Kaylene Smikle scored 16 points and made a couple key baskets down the stretch to help No. 10 Maryland hold off George Mason in a matchup of unbeatens at the Navy Classic. The Terrapins (7-0) led by just two when Smikle stole the ball and made a layup while being fouled. The free throw pushed the lead to 58-53. Then a putback by Smikle put Maryland up by seven. The Terps won despite shooting 13 of 26 on free throws. George Mason (6-1) trailed by 10 at halftime before outscoring Maryland 18-7 in the third quarter. The Patriots’ final lead was 49-48 in the fourth after a jumper by Kennedy Harris. Harris led George Mason with 26 points. Maryland is off to its best start since winning its first 12 games in 2018-19. No. 15 IOWA ST. 75, MIDDLE TENNESSEE 59 FORT MEYERS, Fla. (AP) — Audi Crooks scored 21 points and No. 15 Iowa State rebounded from a 40-point loss to South Carolina with a win over Middle Tennessee in the Fort Meyers Women’s Tip-Off. The Cyclones closed the first half on a 10-2 run to lead 41-33. Mackenzie Hare had a steal she turned into a three-point play and Addy Brown had a buzzer-beating 3-pointer. Brown finished with 12 points and eight rebounds for the Cyclones (6-2), who shot 55% from the field with eight 3-pointers. Ta’Mia Scott scored 24 points, 17 in the second half, for the Blue Racers (6-2). Anastasiia Boldyreva and Jalynn Gregory both added 14. The Blue Racers shot 28% in the first half and finished at 31.5%. No. 18 MISSISSIPPI 89, ALABAMA ST. 24 OXFORD, Miss. (AP) — Sira Thienou scored 16 points with six rebounds, five assists and four steals and No. 18 Mississippi coasted to an win over Alabama State. Starr Jacobs and Christeen Iwuala both added 12 points and Kennedy Todd-Williams had 11 for the Rebels (5-2), who had a breather after losing to No. 2 UConn by 13 in the Bahamas. Kaitlyn Bryant had seven points to lead the Hornets (2-5), who shot 19% with 33 turnovers and were outrebounded 43-25. Alabama State was 1 of 8 with 11 turnovers in the first quarter, falling behind 24-4. The Hornets were 2 of 11 with seven giveaways in the second quarter when they were outscored 33-6 to trail 57-10 at the half. No. 24 LOUISVILLE 79, COLORADO 71 BOULDER, Colo. (AP) — Nyla Harris had 14 points and Jayda Curry scored 10 of her 14 points in the fourth quarter to help No. 24 Louisville get past Colorado. The Cardinals led 56-55 after three quarters before pulling away in the fourth by scoring 16 unanswered points, capped by a fast-break layup by Curry, before Colorado made its first field goal of the frame with 2:48 left. Colorado scored the next six points to get within single digits at 72-63, but freshman Tajianna Roberts banked in a jumper in the lane at the other end. Izela Arenas sealed it on two free throws with 24.9 seconds left for a nine-point lead. Roberts finished with 13 and Arenas had 11 for Louisville (5-2).AFL bombshell as legendary coach quitsRally being held to save Kitchener CTS site plus other ‘under threat’ servicesRoblox CFO Michael Guthrie sells $1.11 million in stock
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TYNGSBORO — Tyngsboro High School has announced its Students of the Month for October. Lillian Gikas, daughter of Aubrey and Jeff Gikas, is a two-year member of the National Honor Society. She has also received several awards such as the Academic Excellence Award for three consecutive years, the National Honor Society Award, Outstanding Achievement in World Language, and Outstanding Achievement in Business. Lillian is also a member of the Yearbook Club and a member of the Senior Sidekicks. She has been very involved in athletics at Tyngsboro High School. She is a four-year varsity basketball team member, was named captain her senior year, and received the Midland-Wachusett League Academic Achievement Award her junior year. Lillian is also a four-year member of the varsity lacrosse team and was named captain senior year and received the Midland-Wachusett Second Team All-Star her junior year. She has participated in community service such as the Tyngsboro Block Party, Festival of Trees, Lowell Community Table, and the Tyngsboro Youth Soccer Snack Shack. Her hobbies include spending time with family and friends, playing basketball and lacrosse, and going to the beach. Lillian’s favorite subjects are anatomy and math and her future goals are to attend college to major in exercise science to pursue a career in physical therapy. Ryan Manning, son of Theresa and Michael Manning, is a two-year member of the National Honor Society. He has received numerous awards including the Academic Excellence Award for three consecutive years, Outstanding Achievement in Science, and the Core Values Award. Ryan has also been very involved in athletics during his time at Tyngsboro High School. He is a three-year member of the varsity golf team, receiving the Most Improved Player award his sophomore year and named captain his senior year. Ryan is also a four-year member of the varsity basketball and baseball teams and was named on the All-Academic team in basketball during his junior year. Ryan is a member of the DECA club and is hoping to become involved with Morgan’s Message. He has dedicated over 50 hours to the Wish Project and coached a recreational basketball team for one year. Ryan’s hobbies include going to the gym and his favorite subjects are math, ceramics, or anything with Mrs. Times. His future goals are to promote Morgan’s Message within Tyngsboro High and help promote mental health awareness. Ryan plans to attend college and become a computer engineer. Thomas Collins, son of Maria and Tom Collins, is a two-year member of the National Honor Society and Spanish Honor Society. He also has received numerous awards such as Academic Excellence Award, AP Scholar Award, Academic Excellence in English Language Arts, and the 2024 Salem State University Book Award. Thomas is also the co-president of the Robotics Club, a member of Bio-Builders and Student Council, and he is also an Eagle Scout. Thomas has also been very involved in athletics, being a four-year member of the varsity wrestling team and co-captain his senior year, and a three-year member of the varsity football team and named captain his senior year. He also has volunteered at the Tyngsboro Block Party, at St. Mary Magdalen Parish, and he built an outdoor fitness area at a local park in Tyngsboro which required over 200 hours of community service. Thomas’ hobbies include camping, biking, fishing, and going to the gym, and his favorite subjects are physics and history. He plans to attend college and study either civil or mechanical engineering and also travel the world. Annabel Liu, daughter of Xiao Yun Wang and Yi Xing Liu, is a two-year member of the National Honor Society and the Spanish National Honor Society. She has also received numerous awards such as the Academic Excellence Award, Outstanding Achievement in Science Award, Outstanding Achievement in Social Studies Award, AP Scholar with Distinction Award, the University of Rochester Frederick Douglass and Susan B. Anthony Award, Outstanding Achievement in World Language, Outstanding Achievement in Wellness, and the Core Values Award. Annabel is also the president of the Student Council, the vice president of the Spanish National Honor Society, and a member of the Medical Professionals Club. She has also been a varsity tennis team member for two years. Annabel has participated in community service at the Tyngsboro Public Library and Lowell General Hospital. Her hobbies include reading, spending time with friends and family, and cooking, and her favorite subjects are English and science. Annabel’s future goals are attending college, traveling, spending time with the people she loves, and being happy.
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