WallachBeth Capital Announces ABVC BioPharma Closing of Private Placement Offering of Original Issue Discount Senior Convertible Promissory Notes for Gross Proceeds of $3.39 Million

(NASDAQ:ABVC) ABVC BioPharma, Inc. has closed a private placement of original issue discount senior convertible promissory notes (OID Notes) with institutional and other accredited investors, generating aggregate gross proceeds of approximately $3.39 million before placement agent fees and other offering expenses. The 17.5% OID Notes have an aggregate principal amount of $4,106,060 and mature on June 30, 2027. The notes are convertible, following the eight month anniversary of the issuance date, into shares of ABVC's common stock at a conversion price equal to 85% of the average of the three VWAPs for the three Trading Days immediately prior to the date of conversion, subject to the Floor Price and adjustment as provided in the agreement. Net proceeds from the offering are expected to be used for general working capital purposes, funding of subsidiaries, and a $625,000 settlement payment to Lind Global Fund II LP pursuant to a definitive release and settlement agreement. The $625,000 payment is expected to satisfy specified outstanding payment claims and support ABVC's ability to pursue broader financing and business development initiatives. The offering is expected to support ABVC's strategy of advancing its pharmaceutical and medical-device portfolio through strategic licensing, subsidiary development, and independent financing initiatives. ABVC has established dedicated business platforms including AiBtl BioPharma Inc. for CNS drug programs, OncoX BioPharma for oncology, ForSeeCon Eye for ophthalmic medical-device development and commercialization, and BioKey (Cayman), Inc. for contract pharmaceutical development and manufacturing services as well as AI Biotechnology Innovation Platform. Through these arrangements, ABVC seeks to advance development programs and create opportunities for licensing revenues, milestone payments, future royalties, and equity value. The company continues to evaluate potential strategic financing and capital-market opportunities for its affiliated businesses to support their long-term development and commercialization objectives. WallachBeth Capital, Inc. acted as the placement agent for the offering. Hunter Taubman Fischer & Li LLC acted as legal counsel to ABVC, and Sichenzia Ross Ference Carmel LLP acted as counsel to the placement agent. The notes and shares issuable upon conversion have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States or any state absent registration or an applicable exemption. Additional details regarding the notes and transaction will be available in ABVC's Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.