Univest Securities, LLC announced it closed a $40 million equity line facility for PMGC Holdings, Inc. (NASDAQ: ELAB), with an initial tranche of $10 million. The investment bank served as sole placement agent for the transaction.

Under the purchase agreement, PMGC Holdings agreed to issue and sell shares of its common stock through secured pre-paid purchases up to the $40 million aggregate amount. The company operates as a diversified holding company focused on precision manufacturing acquisitions in the United States.

The shares were offered through a private placement under Section 4(a)(2) and Rule 506(b) of Regulation D under the Securities Act of 1933. The securities have not been registered under the Securities Act or state securities laws, restricting their sale unless registered with the Securities and Exchange Commission or under an applicable exemption.

PMGC Holdings has agreed to file a registration statement with the SEC covering the resale of the common stock shares.

Univest Securities, registered with FINRA since 1994, provides brokerage, trading, investment banking and wealth management services to institutional and retail clients. The firm states it has raised over $1.7 billion in capital for issuers since 2019 and completed approximately 100 transactions across technology, life sciences, industrial and consumer goods sectors.

The information is based on a company press release statement.