ABVC BioPharma Closes $3.39 Million Private Placement of Convertible Senior Notes
ABVC BioPharma, Inc. (NASDAQ: ABVC) has successfully closed a private placement of original issue discount (OID) senior convertible promissory notes, raising approximately $3.39 million in gross proceeds. The offering consists of notes with an aggregate principal amount of $4,106,060 and a maturity date set for June 30, 2027. The company intends to utilize the net proceeds for general working capital, funding its various subsidiaries, and making a $625,000 settlement payment to Lind Global Fund II LP. This capital injection is intended to support ABVC's strategic initiatives in pharmaceutical and medical-device development across its specialized platforms, including oncology, CNS drug programs, and ophthalmic devices.
Tickers: $ABVC
Topics: capital raising convertible notes private placement working capital