WallachBeth Capital Announces Completion of ABVC BioPharma, Inc. (Nasdaq: ABVC) $4.22 Million Registered Direct Offering

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JERSEY CITY, N.J., May 16, 2022 -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced the completion of the purchase and sale of 2,000,000 shares of common stock of ABVC BioPharma, Inc. (Nasdaq: ABVC), and warrants to purchase up to 2,000,000 shares of common stock, at a purchase price of $2.11 per share in a registered direct offering for total gross proceeds of $4.22 million, before deducting underwriting discounts and commissions and other estimated offering expenses.  The warrants will be immediately exercisable at an exercise price of $2.45 per share of common stock and will expire five years from the date of issuance.

WallachBeth Capital, LLC and Viewtrade Securities, Inc. acted as co-placement agents for the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About ABVC BioPharma.
ABVC BioPharma is a clinical-stage biopharmaceutical company 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). The company has an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development. Clinical trials are in early stages, and there is no guarantee that any specific outcome will be achieved. Past performance is not indicative of future results. Investments may be speculative and illiquid, and there is a risk of loss.

About WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for both issuers and investors. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions. WallachBeth Capital is a leading provider of institutional execution services, offering clients a full spectrum of solutions to help them navigate increasingly complex markets. The firm's website is located at www.wallachbeth.com.

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SOURCE WallachBeth Capital LLC