secwatch.observer — SEC 8-K summary
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Issuer:     Avalon GloboCare Corp. (ALBT)
CIK:        0001630212
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001213900-23-089631
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avalon GloboCare sells 30% interest in realty subsidiary to Chairman for $3M, with option for additional 70% up to $7M
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- Sold 30% membership interest in Avalon RT 9 Properties (owner of 4400 Route 9 South, Freehold, NJ) for $3M cash.
- Purchaser is Chairman Wenzhao Lu; transaction approved by Board per DGCL Section 144.
- Purchaser has option to buy remaining 70% for up to $7M within 12 months from closing.
- Company will continue to use the property as its principal office space.
- Closing scheduled for Dec 31, 2023, with possible acceleration by mutual agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1630212/000121390023089631/0001213900-23-089631-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1630212/000121390023089631/ea188870-8k_avalonglobo.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-089631

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer