Avalon GloboCare Corporation Announces 1-for-15 Reverse Stock Split

Avalon GloboCare Corp. (NASDAQ: ALBT) revealed in a Form 8-K submission to the Securities and Exchange Commission on October 24, 2024, its intention to execute a 1-for-15 reverse split of its common stock, which has a par value of $0.0001 per share. This decision is set to take effect on October 28, 2024, with the common stock to commence trading on a split-adjusted basis when the markets open on that day.

The detailed press release concerning this development has been enclosed as Exhibit 99.1 and is incorporated by reference in the filing. It is explicitly stated that the contents of this particular current report, including Exhibit 99.1, are not to be regarded as “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as revised, or susceptible to the responsibilities outlined in that section, nor will such information be deemed integrated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly set forth by specific reference in said filing. Additionally, the contents provided under Item 7.01 are not an admission of the materiality of any data in this Form 8-K that is obligated to be disclosed solely to fulfill the guidelines of Regulation FD.

In terms of financial statements and exhibits, Exhibit 99.1 comprises the press release issued by Avalon GloboCare Corporation on October 24, 2024. Additionally, included is a Cover Page Interactive Data File, labelled as Exhibit 104 and embedded within the Inline XBRL document.

The submission concludes with the necessary signatures, affirming compliance with the Securities Exchange Act of 1934. Avalon GloboCare Corp.’s report has been officially endorsed by Luisa Ingargiola, the Chief Financial Officer, dated October 24, 2024.

This strategic move towards a reverse stock split reflects the company’s response to prevailing market conditions, positioning itself for potential growth and operational efficiency moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Avalon GloboCare’s 8K filing here.

About Avalon GloboCare

Avalon GloboCare Corp., together with its subsidiaries, owns and operates commercial real estate properties in the United States and China. The company develops and delivers transformative cellular therapeutics, precision diagnostics, and clinical laboratory services. Its leading candidates are AVA-001, an anti-CD19 CAR-T, which has completed first-in-human clinical trial for relapsed/refractory (R/R) B-cell lymphoblastic leukemia; and AVA-011 that has completed pre-clinical laboratory studies and undergoing IND-enabling process development stage to generate cGMP-grade AVA-011 CAR-T cells.