Avalon GloboCare Corp. (ALBT): debt financing — Avalon Globocare closes $700K convertible note financing at 13% senior secured

Avalon GloboCare Corp.

Issued $700K aggregate principal 13% senior secured notes to Mast Hill and Firstfire.
Net proceeds $665K after $35K total original issue discount; used for general corporate purposes.
Each investor received warrants (52.5K shares at $2.50, 43.75K shares at $1.80) and 35K commitment shares.
Notes convertible into common stock; transaction closed Oct 11, 2023.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Avalon GloboCare Corp. incurred senior notes of $350,000.00 with Firstfire Global Opportunities Fund, LLC at 13%.

Instrument: senior notes
Principal: $350,000.00
Counterparty: Firstfire Global Opportunities Fund, LLC
Rate: 13%
Event: incurrence

Exact text from the filing

Firstfire acquired the Notes with principal amount of $350,000.00 and paid the purchase price of $332,500.00 after an original issue discount of $17,500.00

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Avalon GloboCare Corp. incurred senior notes of $350,000.00 with Mast Hill Fund, L.P. at 13%.

Instrument: senior notes
Principal: $350,000.00
Counterparty: Mast Hill Fund, L.P.
Rate: 13%
Event: incurrence

Exact text from the filing

Mast Hill acquired the Notes with principal amount of $350,000.00 and paid the purchase price of $332,500.00 after an original issue discount of $17,500.00

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Avalon GloboCare Corp. entered into Securities Purchase Agreements with Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC valued at 13% senior secured promissory notes in the aggregate principal amount of $700,000.00, convertible in (effective 2023-10-09).

Action: entry
Agreement: notes offering
Counterparty: Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC
Value: 13% senior secured promissory notes in the aggregate principal amount of $700,000.00, convertible in
Effective: 2023-10-09

Exact text from the filing

On October 9, 2023, AVALON GLOBOCARE CORP. (the “ Company ”) entered into securities purchase agreements (the “ Securities Purchase Agreements ”) with Mast Hill Fund, L.P. (“Mast Hill”) and Firstfire Global Opportunities Fund, LLC. (“Firstfire”) for the issuance of 13% senior secured promissory notes in the aggregate principal amount of $700,000.00 (collectively the “ Notes ”) convertible into shares of common stock, par value $0.0001 per share, of the Company, as well as the issuance of up to 70,000 shares of common stock as a commitment fee and warrants for the purchase of up to 105,000 shares of Common Stock at an initial price per share of $2.50 and common share purchase warrants for the purchase of up to 87,500 shares of Common Stock at an initial price per share of $1.80 (collectively, the “October 2023 Warrants”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.96

Avalon GloboCare Corp. entered into Mortgage and Security Agreement with Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC valued at Secures payment performance and obligation under the Notes in the combined principal sum of $700,000 (effective 2023-10-09).

Action: entry
Agreement: credit facility
Counterparty: Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC
Value: Secures payment performance and obligation under the Notes in the combined principal sum of $700,000
Effective: 2023-10-09

Exact text from the filing

On October 9, 2023, the Company entered into mortgage and security agreement (the “Mortgage and Security Agreement”) with Mast Hill and Firstfire (the “Secured Parties”) to secure the payment performance and obligation under the Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.97

Avalon GloboCare Corp. entered into Security Agreements with Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC valued at Security interest in certain property of the Company and its subsidiaries to secure obligations unde (effective 2023-10-09).

Action: entry
Agreement: credit facility
Counterparty: Mast Hill Fund, L.P. and Firstfire Global Opportunities Fund, LLC
Value: Security interest in certain property of the Company and its subsidiaries to secure obligations unde
Effective: 2023-10-09

Exact text from the filing

The Company and its subsidiaries have entered into that certain security agreements (the “ Security Agreements ”), creating a security interest in certain property of the Company and its subsidiaries to secure the prompt payment, performance and discharge in full of all of the Company’s obligations under the Notes.

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101 debt financings filed in the last 30 days. Browse all debt financings →

Avalon GloboCare Corp. filing history →

Source: SEC EDGAR

accession 0001013762-23-003840

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