Avalon GloboCare Corp. announced that it has entered into securities purchase agreements for the issuance of 13% senior secured promissory notes in the aggregate principal amount of $0.5 million on July 6, 2023. The transaction will include participation from FirstFire Global Opportunities Fund LLC, a fund managed by, FirstFire Capital Management LLC.

The notes are convertible into shares of common stock of the company at a conversion price of $4.5 per share.