ABVC BioPharma amends convertible note with $1.00 floor price; cash payment on floor conversions

ABVC BIOPHARMA, INC.

Amendment to $1M secured convertible note sets floor conversion price at $1.00 per share.
Cash payment required if conversion price equals floor price, based on formula linked to VWAP.
Initial shareholder meeting deadline extended one month to April 17, 2024.
Amendment adopted to comply with Nasdaq listing requirements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

ABVC BIOPHARMA, INC. amended Amendment with Lind Global Fund II, LP valued at conversion price shall have a floor price of $1.00 (effective 2024-01-17).

Action: amendment
Agreement: notes offering
Counterparty: Lind Global Fund II, LP
Value: conversion price shall have a floor price of $1.00
Effective: 2024-01-17

Exact text from the filing

the parties entered into an amendment to the Note, pursuant to which the conversion price shall have a floor price of $1.00 (the “Amendment”).

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ABVC BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-018526

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