ABVC BioPharma terminates land transfer agreement with director Shuling Jiang

ABVC BIOPHARMA, INC.

Board terminated agreement to acquire land in Taoyuan City, Taiwan from director Shuling Jiang on May 16, 2024.
Jiang is a director, married to Chief Strategic Officer, and owns ~10% of ABVC common stock.
Company may reconsider the transaction at a later date; no penalty or financial impact disclosed.
Original agreement was reported on Feb 8, 2024; termination is effective immediately.

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 Land Transfer Agreement with Shuling Jiang valued at Not disclosed (effective 2024-02-08).

Action: entry
Agreement: asset purchase
Counterparty: Shuling Jiang
Value: Not disclosed
Effective: 2024-02-08

Exact text from the filing

On February 8, 2024, ABVC BioPharma, Inc. (the “ Company ”) filed the initial Current Report on Form 8-K to disclose that it entered into a definitive agreement with Shuling Jiang (“ Jiang ”), pursuant to which Jiang was going to transfer the ownership of certain land she owns located at Taoyuan City, Taiwan (the “ Land ”) to the Company (the “ Agreement ”).

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

ABVC BIOPHARMA, INC. terminated Land Transfer Agreement with Shuling Jiang valued at Not disclosed (effective 2024-05-16).

Action: termination
Agreement: asset purchase
Counterparty: Shuling Jiang
Value: Not disclosed
Effective: 2024-05-16

Exact text from the filing

On May 16, 2024, the Company’s board of directors determined that it was in the best interest of the Company and its shareholders to terminate the Agreement and not proceed with the transfer of land ownership at this time

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Source: SEC EDGAR

accession 0001213900-24-044798

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