ABVC BioPharma closes $3.39 million private placement

ABVC BioPharma has finalized a private placement of senior convertible promissory notes, raising approximately $3.39 million in gross proceeds. WallachBeth Capital served as the placement agent for the transaction, which involves notes maturing on June 30, 2027.

The company intends to allocate the net proceeds toward general working capital and subsidiary funding. A portion of the funds, totaling $625,000, is designated to settle outstanding payment claims with Lind Global Fund II LP as part of a definitive release agreement.

These notes become convertible into common stock eight months after issuance, with the conversion price tied to the trading performance of the company's shares. ABVC continues to manage various development platforms, including initiatives in oncology and central nervous system research, while seeking ongoing financing to support these objectives.