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Avalon GloboCare Corp. (NASDAQ:ALBT), a micro-cap company with a market value of $4.63 million, announced Monday that it has entered into a waiver agreement with Mast Hill Fund, L.P. to extend the maturity date of a senior secured promissory note. The note, originally issued on June 5, 2024, will now mature on August 31, 2025. The extension comes as InvestingPro data shows the company’s short-term obligations exceed its liquid assets, with a current ratio of 0.19.
The extension was formalized through a waiver signed by both parties on July 28. No additional terms of the waiver were disclosed in the filing. The company stated that the description of the waiver is qualified in its entirety by reference to the full document, which was filed as an exhibit to the Form 8-K. The stock has shown significant volatility, gaining 22.7% in the past week despite being down 48.3% over the past year.
Avalon GloboCare is incorporated in Delaware and its common stock trades on the Nasdaq Capital Market under the symbol ALBT.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Avalon GloboCare Corp. announced it has entered into a securities purchase agreement with Mast Hill Fund, L.P. to sell 300 shares of Series C Convertible Preferred Stock for $300,000, expecting net proceeds of $290,000. Additionally, Avalon has issued two convertible promissory notes totaling $200,000 to investors, with a conversion option into common stock after six months. The company has also secured a new patent from the Hong Kong Intellectual Property Department for its CAR-T and CAR-Natural Killer cell technology, providing 20-year protection and expanding its intellectual property portfolio. However, Avalon GloboCare faces a Nasdaq delisting notice due to non-compliance with the minimum stockholders’ equity requirement, with an equity deficit reported at ($3,891,270) as of March 31, 2025. The company has until July 7, 2025, to submit a compliance plan to Nasdaq and may receive an extension until November 18, 2025, if necessary. Despite these challenges, Avalon’s common stock continues to be listed on the Nasdaq Capital Market.
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