PMGC Holdings Inc. (NASDAQ:ELAB) has entered into a $40 million equity purchase agreement with an institutional investor, the company said, with an initial draw of roughly $10 million expected upon closing.
The arrangement gives PMGC the flexibility to access additional funding over a 24-month period at its discretion. Under the terms, the investor is required to purchase shares of the company’s common stock corresponding to the amounts drawn, subject to agreed conditions.
Based in Newport Beach, California, PMGC operates as a diversified holding company focused on acquiring precision manufacturing businesses. Over the past year, it has completed four acquisitions, assembling a portfolio that includes ITAR-registered and AS9100D-certified CNC machining companies, as well as a specialty IT hardware packaging business.
Its portfolio companies serve sectors such as aerospace, defense, and data centers. PMGC said it intends to use proceeds from the facility to pursue further acquisitions in U.S.-based precision manufacturing and to support organic growth initiatives across aerospace, defense, and industrial markets.
The company’s strategy centers on building a vertically integrated precision manufacturing platform through targeted acquisitions, operational integration, and investments in automation and workforce development. It also noted that it may explore opportunities beyond aerospace and defense where attractive returns are available.
PMGC added that full details of the transaction will be disclosed in a Form 8-K filing with the Securities and Exchange Commission.