ABVC Acquires $2.96 Million Worth of Land in Asia with Stocks Priced at $3.50 per Share

February 8, 2024

https://www.globenewswire.com/news-release/2024/02/08/2826096/0/en/ABVC-Acquires-2-96-Million-Worth-of-Land-in-Asia-with-Stocks-Priced-at-3-50-per-Share.html

FREMONT, CA, Feb. 08, 2024 (GLOBE NEWSWIRE) — via NewMediaWire – ABVC BioPharma, Inc. (NASDAQ:ABVC) (“Company”), a clinical-stage biopharmaceutical company developing therapeutic solutions in Oncology/Hematology, Neurology, and Ophthalmology, announced today that it signed a definitive agreement to acquire real estate in Taoyuan City, Taiwan. The acquisition of real estate assets, estimated at approximately $2.96 million via an equity transfer of $3.50 per share, is to develop plant factories for ABVC’s botanical pipeline strategically; ABVC hopes the property will ultimately be used as an integrated platform for the global development of the Asian healthcare business and the medical, pharmaceutical, and biotechnology industries.

Read more at globenewswire.com

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