Avalon GloboCare (ALBT) retreated over 9% Thursday after the medical device company disclosed a $3.5 million sale of its series C preferred stock earlier this week to an institutional investor.
Under terms of its stock purchase agreement, Hong Kong-based York Sun Investment Holding bought 3,500 preferred shares. The investor will buy another 3,500 shares as part of the agreement within 120 days, generating another $3.5 million in gross proceeds.
Price: 3.71, Change: -0.39, Percent Change: -9.51
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