PMGC Holdings Inc. (NASDAQ:ELAB) saw its shares rise on Friday after the company secured a $40 million equity purchase facility to support its growth strategy.

The agreement includes an initial $10 million tranche expected at closing, with additional capital available over a 24-month period at the company's discretion.

Growth Strategy And Acquisitions

PMGC said the facility will fund its roll-up strategy in U.S.-based precision manufacturing. The company has completed four acquisitions over the past year to expand its platform.

It has built a portfolio of certified CNC machining businesses and an IT hardware packaging unit.

Expansion Plans And Long-Term Focus

The capital will support further acquisitions and investments across aerospace, defense, and ...