ABVC BioPharma enters $1M convertible note financing with Lind Global Fund II

ABVC BIOPHARMA, INC.

Issued $1,000,000 secured convertible note to Lind Global Fund II at $833,333 purchase price (16.7% OID).
Conversion price: lesser of $3.50 fixed or 90% of avg three lowest VWAPs over 20 days; fixed for first 180 days.
Warrant for 1,000,000 shares at $2.00/share exercises cashless under certain conditions; 5-year term.
Company grants Lind 18-month right of first refusal for up to 10% of any subsequent equity financing.
Allele Capital Partners and Wilmington Capital Securities acted as placement agents; received 25,000-share warrant.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ABVC BIOPHARMA, INC. entered into Securities Purchase Agreement with Lind Global Fund II, LP valued at $1,000,000 (effective 2024-01-17).

Action: entry
Agreement: equity purchase
Counterparty: Lind Global Fund II, LP
Value: $1,000,000
Effective: 2024-01-17

Exact text from the filing

On January 17, 2024, ABVC BioPharma, Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Securities Purchase Agreement ”) with Lind Global Fund II, LP (“ Lind ”), pursuant to which the Company issued Lind a secured, convertible note in the principal amount of $1,000,000 (the “ Offering ”), for a purchase price of $833,333

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Source: SEC EDGAR

accession 0001213900-24-004172

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