ABVC BioPharma acquires $2.96M Taiwan land via stock & warrants in related-party deal

ABVC BIOPHARMA, INC.

Land valued at ~$2.96M; consideration is 703,495 restricted shares at $3.50/share plus 5-yr warrants for 1M shares at $2.00.
Seller Shuling Jiang is a director, holds ~10% of ABVC stock, and is married to the Chief Strategic Officer.
Land to be used for GAP plant factories for botanical drug raw materials; closing targeted by March 10, 2024.
Stock issuance exempt under Section 4(a)(2) and Regulation S; no registration for the unregistered shares.

Key facts

Extracted from this filing and checked against the source text.

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

ABVC BIOPHARMA, INC. entered into Agreement with Shuling Jiang valued at approximately $2,962,232 (effective 2024-02-06).

Action: entry
Counterparty: Shuling Jiang
Value: approximately $2,962,232
Effective: 2024-02-06

Exact text from the filing

On February 06, 2024, ABVC BioPharma, Inc. (the “ Company ”) entered into a definitive agreement with Shuling Jiang (“ Jiang ”), pursuant to which Jiang shall transfer the ownership of certain land she owns located at Taoyuan City, Taiwan (the “ Land ”) to the Company (the “ Agreement ”).

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290 material agreements filed in the last 30 days. Browse all material agreements →

ABVC BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-011360

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