Boustead Securities, LLC., (“Boustead”) client American BriVision (Holding) Corporation (OTC: ABVC) (the “Company”), a clinical stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, announced that the Securities and Exchange Commission (“SEC”) has declared the Company’s registration statement on Form S-1 (File No. 333-228387) effective as of August 7, 2019. As disclosed in the prospectus, ABVC intends to list both its Common Stock and Series A Convertible Preferred Stock on the Nasdaq Stock Market (“Nasdaq”).
Such declaration does not imply that the SEC has approved or opined on the merits of the offering. Clinical trials may be in early stages and there is no guarantee that any specific outcome will be achieved.
The registration statement relates to the Company selling a minimum of 1,428,571 and a maximum of 3,285,714 shares of Series A Convertible Preferred Stock for an aggregate of $10,000,000 at the minimum and $23,000,000 at the maximum, before underwriting commissions and assuming a $7.00 offering price per share. Boustead Securities, LLC has agreed to act as the lead underwriter to offer shares of Series A Convertible Preferred Stock to prospective investors on a best efforts basis. ABVC cannot assure that either of its application to list the Common Stock or Series A Convertible Preferred Stock on Nasdaq will be approved; however, ABVC will not complete this offering without a listing approval letter of our Series A Convertible Preferred Stock and Common Stock from Nasdaq.
The SEC’s Notice of Effectiveness may be accessed through the SEC’s website at www.sec.gov or accessed directly via the following link: www.sec.gov.
A copy of ABVC’s Prospectus is available at: https://www.sec.gov/Archives/edgar/data/1173313/000121390019015084/f424b2080819_americanbri.htm
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Past performance is not indicative of future results. Investments in private companies may be speculative and illiquid, and there may be a risk of loss of the entire investment.
About American BriVision
American BriVision 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) and then out-licensing the products to international pharmaceutical companies for pivotal Phase III studies and, eventually, generating global sales. The Company has an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development.
About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information, please visit www.boustead1828.com.
Safe Harbor Statement
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.