aibioABVC BioPharma cuts warrant price to $0.40 as Lind agrees to exercise 1,029,167
Tickers ABVC
It is the third such letter agreement with Lind Global Fund II, LP. The company agreed not to issue new shares for 15 days after closing.
Key facts
- Company
- ABVC BioPharma, Inc. (NASDAQ: ABVC)
- News type
- Financings
- Primary source
- ABVC BioPharma, Inc. 8-K (2025-01-06)
ABVC BioPharma, Inc. said it agreed on January 5, 2025 to lower the exercise price on 1,029,167 warrants held by Lind Global Fund II, LP from $0.75 to $0.40 per share, in exchange for Lind exercising them for cash.
A warrant gives its holder the right to buy shares at a set price.
This is the third such deal with Lind. On May 22, 2024, Lind exercised 1,000,000 warrants at a reduced price of $0.75 and received a new warrant for 1,000,000 shares at $1.00 per share, exercisable for five years. On November 4, 2024, Lind agreed to exercise 500,000 warrants at a reduced price of $0.42.
The warrants come from three earlier securities purchase agreements with Lind, dated February 23, 2023, November 17, 2023 and January 17, 2024. Each involved a secured, convertible note and a warrant. The exercise price of Lind's remaining warrants is unchanged.
Under the latest letter agreement, ABVC agreed not to sell or issue any more common stock for 15 days after the closing, with some exceptions. The securities have not been registered under the Securities Act, according to the filing.