WallachBeth Capital announces the completion of a binding takeover bid of 1,100,000 units for ABVC BioPharma, Inc.

JERSEY CITY, NJ, August 6, 2021 / PRNewswire / – WallachBeth Capital, a leading provider of capital markets and institutional execution services, has announced the completion of a 1,100,000-unit subscribed public offering for ABVC BioPharma, Inc. (NASDAQ: Common Shares – ABVC) at an offering price of $ 6.25 per share for total gross proceeds of $ 6.875 million, before deduction of discounts and subscription commissions and other estimated offering costs and before any exercise of the over-allotment option of the subscribers.

Each unit consists of one common share, a Series A warrant to purchase one common share at an exercise price equal to $ 6.30 per share, exercisable until the fifth anniversary of the issue date, and a Series B warrant to purchase one common share at an exercise price of $ 10.00 per share, exercisable until the fifth anniversary of the issue date. The Series B Warrant may be exercised by cashless exercise no earlier than 15 days after the date of issue of the warrant or the time when $ 10 million of the volume is traded in the common shares in accordance with the terms thereof. The common shares and the warrants comprising the units are immediately separable and will be issued separately as part of the offer.

ABVC BioPharma has also granted us, as representative of the underwriters, a 45-day option to purchase up to 165,000 additional common shares at a price of $ 6.23 and / or Series A warrants to purchase up to a total of 165,000 common shares at a price of $ 0.01 and Series B warrants to purchase up to a total of 165,000 common shares at a price of $ 0.01, in any combination of these to cover over-allotments, if applicable. In addition, ABVC has issued us warrants to purchase up to a total of 5% of the common shares sold under the offer at an exercise price equal to 100% of the offer price per unit of the shares. units. The warrants cannot be exercised for six (6) months after the effective date of the registration declaration.

ABVC’s common stock began trading on the NASDAQ Capital Market on August 3, 2021, under the ticker symbol “ABVC”.

WallachBeth Capital, LLC acted as the sole book manager for the offering.

About ABVC BioPharma

ABVC BioPharma is a clinical-stage biopharmaceutical company focused on using its licensed technology to conduct proof-of-concept trials throughout Phase II of the clinical development process at world-renowned research institutes (such as Stanford University, University of California San Franciscoand Cedars-Sinai Medical Center). The company has an active pipeline of six drugs and a medical device (ABV-1701 / Vitargus®) in development.

This offer is made in accordance with an effective registration statement on Form S-1 (No. 333-255112) previously filed with the United States Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on August 2, 2021 and an effective registration statement on form S-1MEF (No. 333-258404). A final prospectus outlining the terms of the proposed offering has been filed with the SEC and can be obtained through the SEC’s website at www.sec.gov or WallachBeth Capital, LLC, by email at [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction where such an offer, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.

About WallachBeth Capital LLC
WallachBeth Capital provides a wide range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for issuers and investors. The company’s experience includes initial public offerings, follow-up shows, PIPE offerings, and private transactions. WallachBeth Capital is a leading provider of institutional execution services, offering its clients a full suite of solutions to help them navigate increasingly complex markets. The company’s website can be found at www.wallachbeth.com.

Forward-looking statements

This announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements regarding the financial condition of the Company, its business strategy and other plans and targets for future operations and assumptions and forecasts regarding future product demand, supply, manufacturing, costs, marketing and pricing factors are all forward-looking statements. These statements are usually accompanied by words such as “intend to”, anticipate “,” believe “,” estimate “,” possible “,” continue “,” foresee “,” predict “,” plan ” , “Can,” “will”, “could”, “should”, “should”, “expect” or the negative of these terms or other comparable terminology. The Company believes that the assumptions and expectations reflected in these forward-looking statements are reasonable, based on the information available to it as of the date hereof, but the Company cannot guarantee that these assumptions and expectations will prove to be correct or that the Company will take the measures it is currently considering. are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory policies, available liquidity, research results, competition from other similar companies, and general economic and market factors. This discussion should be read in conjunction with documents filed by the Company with the United States Securities and Exchange Commission at www.sec.gov.

SOURCE WallachBeth Capital LLC

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