Avalon GloboCare Corp. entered into securities purchase agreement for the issuance of 13% senior secured promissory notes for gross proceeds of $665,000 on October 9, 2023. The notes are convertible into shares.

The company will also issue up to 70,000 shares as a commitment fee and warrants for the purchase of up to 105,000 shares at an initial price per share of $2.50 and common share purchase warrants for the purchase of up to 87,500 shares at an initial price per share of $1.80. The transaction included participation from returning investors Mast Hill Fund, L.P., a fund managed by Mast Hill Management, LLC, FirstFire Global Opportunities Fund LLC, a fund managed by FirstFire Capital Management LLC for $332,500 each. The notes have a principal amount of $700,000.00 and are issued at an original issue discount of $35,000.

The company has received $700,000 pursuant to Regulation D and included participation from 2 investors.