PMGC Holdings Inc. (NASDAQ:ELAB) shares jumped 37.74% to $1.46 in overnight trading on Thursday as the biopharmaceutical company disclosed a merger between two wholly owned subsidiaries. The stock had closed the regular session flat at $1.06.
Strategic Consolidation
According to a Thursday Securities and Exchange Commission filing, AGA Precision Systems LLC will merge into A&B Aerospace Inc., with A&B surviving the Merger as the continuing entity. The agreement was dated Jul. 2.
All membership interests in AGA will be canceled without consideration, while A&B’s issued and outstanding shares will remain unaffected.
A&B Aerospace, founded in 1948 and based in Azusa, California, serves major aerospace and defense customers, including Boeing (NYSE:BA), Honeywell International Inc. (NASDAQ:HON) and Moog Inc. (NYSE:MOG).
