Able View Global Inc. Raises USD$4 Million from Convertible Notes Financing to Propel Growth

Rhea-AI Summary

Able View Global (NASDAQ-CM: ABLV), a major brand management partner for international beauty and personal care brands in China, has completed a $4 million convertible notes financing with three non-U.S. investors. The notes carry an 8% annual interest rate, 20% original issue discount, and mature in three years. They are convertible into Class B Ordinary Shares at the higher of 75% of the lowest 10-day VWAP or $0.6 per share. Investors will receive warrants to purchase additional shares upon conversion. The funds will support working capital and potential M&A activities.

Positive

• Secured $4 million in financing to strengthen working capital
• Funding available for potential M&A opportunities

Negative

• 20% original issue discount reduces effective capital raised
• Potential shareholder dilution from convertible notes and warrants
• Conversion price at 25% discount to market price could pressure stock

SHANGHAI, CHINA / ACCESSWIRE / November 8, 2024 - Able View Global Inc. - (NASDAQ-CM: ABLV) ("Able View" or the "Company") one of the largest comprehensive brand management partners of international beauty and personal care brands in China, is pleased to announce the successful completion on November 4, 2024 of the Company's issuance and sale of convertible notes to three non-U.S. investors (the "Purchasers").

Under the terms of the transaction, Able View has issued convertible notes (the "Notes") totaling a principal amount of USD$4,000,000 to the three Purchasers. These Notes feature an interest rate of 8% per annum, an original issue discount of 20%, and a maturity term of three (3) years. The Notes are convertible into Class B Ordinary Shares of the Company (the "Conversion Shares") at the option of the Purchasers, at a conversion price (the "Conversion Price") of the higher of (i) 75% of the lowest volume-weighted average trading price of the Class B Ordinary Shares during the ten (10) latest consecutive business days preceding the conversion, and (ii) $0.6 per Class B Ordinary Share. In addition, the Company will issue the Purchasers warrants to purchase one (1) Class B Ordinary Share per Conversion Share (the "Conversion Warrants") upon the conversion of the Notes, with the exercise price of such Conversion Warrants the same as the Conversion Price of the Notes.

The funds raised will be used to enhance the Company's working capital and support potential mergers and acquisitions.

About Able View Global Inc.

Able View is China's second-largest e-commerce hub for international beauty and personal care brands, offering a comprehensive suite of brand-management services. These services include strategic planning, branding, digital and social marketing, omni-channel sales, customer service, and integrated logistics such as overseas shipping, warehousing, and fulfilment. Able View owns and manages a diverse portfolio of products that range from niche to prestige and masstige categories, solidifying a strong presence in the Chinese market. The Company's mission is to enhance these brands' power and premium status, ensuring sustainable growth and long-term success in China. The Company's website is www.ableviewir.com. The Company routinely posts important updates on its website.

For further information, please contact:

Able View Global Inc.

Mr. Dennis Tang, CFO

E:info@ableview.com

CHF Capital Markets (IR)
Cathy Hume, CEO
T: 416-868-1079 x 251
E:cathy@chfir.com

Follow us on Social Media

Website: www.ableviewir.com

Twitter: https://twitter.com/ableviewglobal

LinkedIn: https://www.linkedin.com/company/ableview/

Facebook: https://www.facebook.com/profile.php?id=61554714879072
Instagram: https://www.instagram.com/ableviewglobal/

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the business combination, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Able View expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Able View's expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based except as required by the applicable law, regulations or rules.

View the original press release on accesswire.com

FAQ

What is the interest rate and maturity of Able View Global's (ABLV) convertible notes?

The convertible notes have an 8% annual interest rate and a three-year maturity term.

How much did Able View Global (ABLV) raise in convertible notes financing in November 2024?

Able View Global raised USD$4 million through convertible notes financing from three non-U.S. investors.

What is the conversion price for Able View Global's (ABLV) convertible notes?

The conversion price is the higher of 75% of the lowest 10-day VWAP or $0.6 per Class B Ordinary Share.

How will Able View Global (ABLV) use the proceeds from the convertible notes?

The proceeds will be used to enhance working capital and support potential mergers and acquisitions.