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ABVC Biopharma Receives Additional $4,245,000 from Exercise of Warrants, Total Capital from Public Offering Increases to Approx. $11.1M
FREMONT, CA, Nov. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc.(Nasdaq: ABVC), a biotechnology company specializing in botanically
About this update from Abvc Biopharma, Inc.
[{"type":"text","content":"FREMONT, CA, Nov. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc.(Nasdaq: ABVC), a biotechnology company specializing in botanically based solutions that deliver high efficacy with low toxicity for improved health outcomes, today announced the receipt of $4,245,000 in additional gross proceeds from the exercise of Series A warrants issued in the company's August 3, 2021, public offering of securities. Investors participating in ABVC’s financing exercised a total of 673,723 Series A warrants at a price of $6.30 per share. Combined with the Company's underwritten public offering of 1,100,000 shares, in which the Company announced the receipt of gross proceeds of $6,875,000, the Company has received an aggregate of approximately $11,120,000 as of November 9, 2021. About ABVC BioPharma, Inc. ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development. For its drug products, it is focused on utilizing its licensed technology to conduct proof-of-concept trials through Phase II of the clinical development process at world-famous research institutions (such as Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center). For Vitargus®, the company intends to conduct the clinical trials through Phase III at various locations throughout the world. Forward-Looking Statements Clinical trials are in early stages, and there is no guarantee that any specific outcome will be achieved. This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale...