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Avalon GloboCare Announces Closing of up to $9.75 Million Private Placement Priced At-the-Market under Nasdaq Rules
Globenewswire· 2026-02-27 22:30
Core Viewpoint - Avalon GloboCare Corp. has successfully closed a private placement, raising approximately $3.25 million, with potential additional proceeds of up to $6.5 million from warrants [1][3]. Group 1: Financial Details - The private placement involved the issuance and sale of 6,372,550 shares of common stock at a purchase price of $0.51 per share, along with Series A-1 and A-2 warrants [1]. - The gross proceeds from the offering were approximately $3.25 million before deducting fees and expenses, with potential additional gross proceeds of approximately $6.5 million if the warrants are fully exercised [3]. - The net proceeds from the offering will be used for debt repayment, working capital, and general corporate purposes [3]. Group 2: Warrants Information - Series A-1 warrants will expire five years from stockholder approval, while Series A-2 warrants will expire eighteen months from stockholder approval [1]. - The warrants have an exercise price of $0.51 per share and will be exercisable upon stockholder approval [1]. Group 3: Company Overview - Avalon GloboCare Corp. is focused on developing precision diagnostic consumer products and generative AI publishing and software [1]. - The company is advancing AI systems through its subsidiary, Avalon Quantum AI LLC, and is expanding its intellectual property in cellular therapy and generative AI [6]. - Avalon is also marketing the KetoAir™ breathalyzer device, registered as a Class I medical device with the FDA, and plans to pursue additional diagnostic applications [6].