Avalon GloboCare Closes $3.25M Private Placement, Potentially Reaching $9.75M with Warrant Exercise

Avalon GloboCare has closed a private placement priced at-the-market under Nasdaq rules, raising $3.25 million upfront with potential for up to $6.5 million more upon the exercise of warrants. The offering consisted of 6,372,550 shares of common stock and associated warrants, priced at $0.51 per share. The net proceeds will be used to repay debt and for working capital and general corporate purposes. The securities were offered in a private placement under Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder.