Avalon GloboCare closes $4M private placement with Chairman for lab services acquisition

Avalon GloboCare Corp.

Chairman Daniel Lu invested $4M in Series A preferred stock convertible at min $1.00/share.
Proceeds to fund 60% acquisition of Laboratory Services MSO; another $6M raise planned.
Preferred stock has 9-month conversion lock-up and 10% monthly sale limit.
Acquisition expected to close within 30 days; management calls it transformative with positive cash flow.

item 1.01 item 5.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Avalon GloboCare Corp.: Filed Certificate of Designation for Series A Preferred Stock, designating up to 15,000 shares and setting preferences, rights, and limitations (effective 2022-11-03).

Change: charter amendment
Effective: 2022-11-03

Exact text from the filing

On November 3, 2022 the Company filed a Certificate of Designation of Preferences, Rights and Limitations of the Series A Preferred Stock (the “ Series A Certificate of Designation ”), which became effective immediately with the Secretary of State of the State of Delaware, attached hereto as Exhibit 3.1.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Avalon GloboCare Corp. entered into Securities Purchase Agreement with Wenzhao Lu valued at $4,000,000 (effective 2022-12-14).

Action: entry
Agreement: equity purchase
Counterparty: Wenzhao Lu
Value: $4,000,000
Effective: 2022-12-14

Exact text from the filing

On December 14, 2022, the Company entered into a Securities Purchase Agreement with Wenzhao Lu, the Company’s Chairman of the Board, pursuant to which the Company sold to Mr. Lu 4,000 shares of its Series A Preferred Stock, stated value $1,000, for the gross proceeds of $4,000,000 (the “ Private Placement ”).

View on SEC.gov

86 governance changes filed in the last 30 days. Browse all governance changes →

Avalon GloboCare Corp. filing history →

Source: SEC EDGAR

accession 0001213900-22-079631

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.