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budfoxfun

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budfoxfun

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Wednesday, 12/22/2021 9:28:35 AM

Wednesday, December 22, 2021 9:28:35 AM

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News Out! Avalon’s Chairman converts $3.0 million of debt into common stock at $1.25 per share showing continued confidence and support of the business

FREEHOLD, N.J., Dec. 22, 2021 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (NASDAQ: AVCO) (Avalon or The Company), a clinical-stage global developer of cell-based technologies and therapeutics, today announced the Company’s Chairman, Daniel Lu, has converted $3.0 million of debt owed to him under the Line of Credit into 2.4 million shares of the Company’s common stock at $1.25 per share. The conversion price represents a 45% premium to yesterday’s closing price.
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