secwatch.observer — SEC 8-K summary
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Issuer:     Avalon GloboCare Corp. (ALBT)
CIK:        0001630212
Form:       8-K
Filed at:   2023-02-13T23:59:59+00:00
Accession:  0001213900-23-010503
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 5.03, 2.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avalon GloboCare acquires 40% of Laboratory Services MSO for $21M
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- Total consideration $21M: $9M cash, $11M in Series B Convertible Preferred stock (11,000 shares at $1,000 stated value), plus $1M anniversary payment due Feb 9, 2024.
- Seller eligible for earnout up to $10M, with up to $5M cash and $5M in common stock based on Dec 31, 2023 closing price.
- Buyer has option to purchase additional 20% of Lab Services MSO within 9 months for $6M cash + $4M in Series B preferred stock.
- Series B Preferred converts to common at $3.78/share, subject to one-year lock-up period and monthly 10% resale limit thereafter.
- Sarah Cox retained as consultant; Meng Li continues as COO and board member.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1630212/000121390023010503/0001213900-23-010503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1630212/000121390023010503/ea173222-8k_avalonglobo.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-010503

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