Avalon GloboCare waives amortization on $2.845M note, pays $150k fee, issues warrant for 150k shares at $0.01

Avalon GloboCare Corp.

Waived all amortization payments under the $2.845M senior secured note with Mast Hill Fund; paid $150k waiver fee.
Issued to Mast Hill Fund a warrant to purchase 150,000 common shares at $0.01 per share.
Filed Series C Convertible Preferred Stock certificate: 10,000 shares, $1,000 stated value, conversion at $2.41.
Series C Preferred conversion subject to shareholder approval and one-year anniversary; beneficial ownership cap 19.99%.
Warrant issuance is an unregistered sale of equity securities exempt under Section 4(a)(2).

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Avalon GloboCare Corp.: Filed Series C Certificate of Designations to designate 10,000 shares of Series C Convertible Preferred Stock with stated value, dividend, liquidation preference, and conversion terms (effective 2024-12-13).

Change: charter amendment
Effective: 2024-12-13

Exact text from the filing

On December 13, 2024, the Company filed a certificate of designations of preferences, rights, and limitations of Series C Convertible Preferred Stock (the "Series C Certificate of Designations") with the Department of State, Division of Corporations, of the State of Delaware, which provides for the designation of 10,000 shares of Series C Preferred Stock of the Company, par value $0.0001 per share, upon the terms and conditions as set forth in the Series C Certificate of Designations.

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Avalon GloboCare Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-110582

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