Avalon GloboCare Corp. (ALBT): debt financing — Avalon GloboCare enters into mortgage agreements to secure $2.7M in existing debt

Avalon GloboCare Corp.

Mortgaged real property in Freehold, NJ to secure $2.2M owed to Mast Hill Fund under May 2023 ($1.5M) and Mar 2024 ($0.7M) notes.
Separately mortgaged same property to secure $500,000 owed to Firstfire Global Opportunities Fund from prior 2023 financing.
Mortgages grant security interests in land, buildings, equipment, leases, and insurance proceeds.
No new financing; existing debt is being collateralized with real estate owned by wholly owned subsidiary.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Avalon GloboCare Corp. incurred convertible notes of $700,000.00 with Mast Hill Fund L.P. at 13%.

Instrument: convertible notes
Principal: $700,000.00
Counterparty: Mast Hill Fund L.P.
Rate: 13%
Event: incurrence

Exact text from the filing

the issuance of 13% senior secured promissory notes totaling $700,000.00 convertible into common stock

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

Avalon GloboCare Corp. entered into Mortgage and Security Agreement dated March 27, 2024 (Mast Hill Mortgage) with Mast Hill Fund L.P. valued at $2,200,000.00 combined principal sum (effective 2024-03-27).

Action: entry
Agreement: credit facility
Counterparty: Mast Hill Fund L.P.
Value: $2,200,000.00 combined principal sum
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Avalon Globocare Corp. (the "Company") entered into a Mortgage and Security Agreement (the "Mast Hill Mortgage") with Mast Hill Fund L.P. ("Mast Hill") to secure the payment performance and obligation under certain follow-up financing agreements described below.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Avalon GloboCare Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-026600

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