Avalon GloboCare Corp

:AVCO   1:02:58 PM EDT
-0.02 (-5.79%)
Mergers / Acquisitions

Avalon Globocare To Acquire Leading Laboratory With 2021 Unaudited Revenue Of Over $25 Mln

Published: 11/08/2022 14:27 GMT
(AVCO) - Avalon Globocare Signs Definitive Agreement for Transformational Acquisition of Leading Laboratory With 2021 Unaudited Revenue in Excess of $25 Million.company to Begin Trading Under New Symbol "albt" on November 10, 2022.
Total Consideration for Acquisition Will Be $31 Million.
Avalon Globocare - Deal Cash Portion to Be Financed With Private Placement of $15 Million of Preferred Stock, Convertible at a Floor of $1.00 per Share.
Shares of Co's Common Stock Will Begin Trading Under New Ticker Symbol "albt" on Nasdaq Capital Market on Thursday, Nov 10.
Sarah Cox, Co-founder and CEO of Laboratory Services, Will Become Chief Operating Officer of Company.
Has Signed a Definitive Acquisition Agreement to Acquire a 60% Interest in Laboratory Services Mso, Llc.