0001173313
true
Amendment no. 1 to Form 8-k
0001173313
2023-08-17
2023-08-17
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 6, 2023 (August 17, 2023)
ABVC BIOPHARMA, INC.
(Exact name of registrant as specified in its charter)
Nevada |
|
001-40700 |
|
26-0014658 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
44370 Old Warm Springs Blvd.
Fremont, CA |
|
94538 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number including area
code: (510) 668-0881
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol |
|
Name
of each exchange on which registered |
Common Stock, par value $0.001 per share |
|
ABVC |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule
12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into Material Definitive Agreements
As disclosed previously, on
August 14, 2023, ABVC BioPharma, Inc., a Nevada corporation, (the “Company”) entered into a cooperation agreement
(the “Original Agreement”, the transaction contemplated therein the “Transaction”) with Zhonghui
United Technology (Chengdu) Group Co., Ltd. (“中汇联和科技(成都)集团有限公司”),
a Company established under the Law of People’s Republic of China (“Zhonghui”).
On September 4, 2023, the
Company and Zhonghui entered into that certain amendment dated August 28, 2023 (the “Amendment”), to the Original Agreement,
to clarify that, in no event that the Company will issue to Zhonghui shares of common stock of the Company, in connection with the Transaction,
in an amount exceeding 19.99% of the issued and outstanding shares as of the date of the Original Agreement.
The foregoing summary of the
terms of the Amendment is subject to, and qualified in its entirety by, the complete Amendment, which is attached as an exhibit to this
filing and incorporated herein by reference.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
ABVC BioPharma, Inc. |
|
|
|
September 6, 2023 |
By: |
/s/ Uttam Patil |
|
|
Uttam Patil |
|
|
Chief Executive Officer |
2
Exhibit 10.1
AMENDMENT NO. 1 TO COOPERATION AGREEMENT
This Amendment No. 1 (the
“Amendment”) to cooperation agreement (the “Original Agreement”, the transaction contemplated herein
the “Transaction”) is entered into as of August 28, 2023, by and between ABVC BioPharma, Inc. (“ABVC”
or the “Company”), and 中汇聯和科技(成都)集團有限公司Zhonghui
United Technology (Zhonghui) Group Co., Ltd. and its affiliated enterprises (hereinafter referred to as “Zhonghui”)
ABVC and ZHONGHUI are sometimes referred to herein individually as a “Party,” and collectively as the “Parties”.
WHEREAS, the Company
and Zhonghui entered into the Original Agreement dated as of August 14, 2023; the Company and Zhonghui wish to amend the Original Agreement
to address comments received from the Nasdaq Capital Market (“Nasdaq”).
NOW, THEREFORE, in
consideration of the foregoing and the respective covenants and agreements set forth herein, the parties hereto agree as follows:
1. Article 3.3 of the
Original Agreement are replaced in their entirety with the following:
3.3 Adjustment Process: The process for making
adjustments shall be determined through mutual agreement and in accordance with the applicable laws and regulations. The parties shall
engage in good faith negotiations to reach a mutually acceptable solution. In case, the value of the Share Consideration is below US$7,400,000,
more stock shall be issued. In case the value of The Property is below US$7,400,000, a greater ownership interest in the property shall
be transfer to ABVC; provided, however, that in no event that the Shares issued to ZHONGHUI shall exceed 19.99% of the issued and outstanding
shares of ABVC common stock as of the date of the Agreement (i.e. August 14, 2023).
2. Terms in uppercase
letters not otherwise defined in this agreement should be interpreted with the respective meanings assigned to them in the original agreement.
3. Capitalized terms
not otherwise defined herein shall the respective meanings ascribed to them in the Original Agreement.
4. Except as herein
above amended, the terms and provisions of the Original Agreement shall remain in full force and effect.
5. This Amendment may
be executed in any number of counterparts, each of which shall be considered an original for all purposes.
6. This Amendment shall
extend to and be binding upon the heirs, executors, administrators, successors, and assigns of each of the parties hereto.
7. This Amendment shall
be governed by and construed in accordance with the internal laws of the State of New York.
8. The Agreement is
in both English and Chinese, which both have binding effects. If there is any conflict between the English and Chinese language, English
language prevails.
[Signature Page Follows]
|
Very truly yours, |
|
|
|
ABVC BioPharma, Inc. |
|
|
|
By: |
|
|
|
Name: |
Uttam Yashwant Patil, Ph.D. |
|
|
Title: |
Chief Executive Officer |
Accepted and Agreed to as of
the date first written above:
中汇聯和科技(成都)集團有限公司
Zhonghui United Technology (Zhonghui) Group Co., Ltd.
By: |
|
|
|
Name: Wencheng Sun |
|
|
Title: Chairman |
|
[Signature Page to Amendment No. 1 to Original
Agreement
between ABVC BioPharma, Inc. and 中汇聯和科技(成都)集團有限公司Zhonghui
United Technology
(Zhonghui) Group Co., Ltd.]
修正案编号1
合作协议
本合作协议(以下简称“原始协议”,本文中设想的交易以下简称“交易”)的第
1 号修正案(以下简称“修正案”)由
ABVC BioPharma, Inc. ( “ABVC”或“公司”)、中汇联和科技(成都)集团有限公司
中汇联合科技(成都)集团有限公司及其关联企业(以下简称“中汇”)
ABVC 和 ZHONGHUI有时在本文中单独称为“一方”,统称为“双方”。
鉴于,公司与中汇签订的原协议日期为2023年8月14日;公司和中汇希望修改原始协议,以解决从纳斯达克资本市场(“纳斯达克”)收到的意见。
因此,现在,考虑到前述内容以及本协议中规定的相应契约和协议,双方同意如下:
1. 原协议第3.3条全部替换为:
3.3 调整流程:调整流程应根据适用的法律法规,经双方协商确定。双方应履行善意谈判,以达成双方都能接受的解决方案。如果股份的市场价值低于7,400,000美元,则应发行更多股票。如果该房产的价值低于7,400,000美元,则该房产的较大所有权权益应转让给ABVC;但前提是,在任何情况下,向中汇发行的股份均不得超过截至协议签署之日(即2023年8月14日)ABVC已发行和流通普通股的19.99%。
2. 本协议中未另行定义的大写术语应采用原始协议中赋予它们的各自含义。
3. 除上述修订外,原协议的条款和规定仍具有完全效力。
4. 本修正案可签署任意数量的副本,出于所有目的,每份副本均应被视为原件。
5. 本修正案应适用于各方的继承人、遗嘱执行人、管理人、继任者和受让人,并对其具有约束力。
6. 本修正案应受纽约州内部法律管辖并根据纽约州内部法律解释。
7. 本协议有中英文两种文本,均具有约束力。如果英文和中文之间有任何冲突,以英文为准。
[签名页如下]
|
Very truly yours, |
|
|
|
ABVC BioPharma, Inc. |
|
|
|
By: |
|
|
|
Name: |
Uttam Yashwant Patil, Ph.D. |
|
|
Title: |
Chief Executive Officer |
已接受并同意:
中汇聯和科技(成都)集團有限公司
Zhonghui United Technology (Zhonghui) Group Co., Ltd.
By: |
|
|
|
Name: |
孙文成 |
|
|
Title: |
Chairman |
|
[Signature Page to Amendment No. 1 to Original
Agreement
between ABVC BioPharma, Inc. and 中汇聯和科技(成都)集團有限公司Zhonghui
United Technology
(Zhonghui) Group Co., Ltd.]
v3.23.2
X |
- DefinitionDescription of changes contained within amended document.
+ References
+ Details
Name: |
dei_AmendmentDescription |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
ABVC BioPharma (NASDAQ:ABVC)
Historical Stock Chart
From Apr 2024 to May 2024
ABVC BioPharma (NASDAQ:ABVC)
Historical Stock Chart
From May 2023 to May 2024