ABVC BioPharma Enters into Agreement to Exercise Warrants at Reduced Price

ABVC BioPharma, Inc. (NASDAQ: ABVC) recently disclosed a new agreement with Lind Global Fund II, LP (Lind) concerning the exercise of warrants at a reduced price. The agreement, dated November 4, 2024, outlines that Lind has committed to exercising 500,000 of the Existing Warrants for ABVC’s common stock at a modified exercise price of $0.42 per share, down from the current $0.75 per share. This move is part of an ongoing relationship that ABVC BioPharma has with Lind, as detailed in prior agreements.

The Initial Lind Transactions, which encompass several securities purchase agreements between ABVC and Lind, involved the issuance of common stock and warrants to Lind. The most recent development follows a May 2024 agreement whereby Lind exercised 1,000,000 of the Existing Warrants to purchase ABVC’s common stock at $0.75 per share, equipping Lind with a new warrant for further stock acquisition.

The November Letter Agreement between ABVC and Lind not only includes provisions for exercising warrants at a reduced price but also incorporates standard representations, warranties, indemnification duties, termination clauses, and other obligations. It is essential to acknowledge that the description of these agreements is contingent upon the full texts of the documents filed as exhibits, as they are key components of the agreement.

It should be made clear that the transactions, as disclosed via Form 8-K, are not invitations to buy or sell securities issued by ABVC BioPharma. The company’s securities, per the statement, have not been registered under the Securities Act of 1933 and should not be traded in the absence of proper registration or in accordance with exemptions from registration as applicable by federal and state securities laws.

The new development involving the exercise of warrants at a reduced price underscores ABVC BioPharma’s ongoing financial activities and strategic ties with Lind, positioning the company for potential growth and development in the biopharmaceutical sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ABVC BioPharma’s 8K filing here.

ABVC BioPharma Company Profile

ABVC BioPharma, Inc, a clinical stage biopharmaceutical company, develops drugs and medical devices to fulfill unmet medical needs in the United States. The company is developing ABV-1501, which is in Phase II clinical trials a combination therapy for triple negative breast cancer; ABV-1504 has completed Phase II clinical trials for major depressive disorders; ABV-1505, which is in Phase II clinical trials for adult attention deficit hyperactivity disorder; ABV-1703, which is in Phase II clinical trials for the treatment of metastatic pancreatic cancer; ABV-1702, which is in Phase II clinical trials to treat myelodysplastic syndromes; and ABV-1601 that is in Phase I/II clinical trials for treating depression in cancer patients.