Avalon GloboCare Raises $3.25M with ATM Placement, Secures AMD AI Developer Access
Avalon GloboCare closed a $3.25M at-the-market private placement, issuing 6.37M shares and warrants at $0.51, with potential additional $6.5M upon full warrant exercise. Avalon’s subsidiary AQAI joined AMD’s AI Developer Program, gaining cloud credits and tools to advance its AI-driven media and automation platforms.
1. At-the-Market Private Placement
Avalon GloboCare closed its at-the-market private placement under Nasdaq rules, issuing 6,372,550 common shares (or pre-funded warrants) and Series A-1 and A-2 warrants at $0.51 per share, resulting in $3.25 million of gross proceeds before fees. The offering carries potential to raise an additional $6.5 million if all warrants are exercised, with net proceeds earmarked for debt repayment, working capital and general corporate purposes.
2. AMD AI Developer Program Acceptance
Avalon’s AI subsidiary AQAI was accepted into AMD’s AI Developer Program, providing access to AMD Developer Cloud credits, advanced tools, training and community resources to accelerate AI development. This inclusion bolsters Avalon’s strategy to expand its AI-driven media production, enterprise documentation and automation platforms, enhancing its technological capabilities and market positioning.