Avalon GloboCare files S-1 for stock and warrant offering amid Nasdaq bid price deficiency
The AI and consumer health company disclosed going concern doubt, an accumulated deficit near $110.4 million, and a Nasdaq notice requiring it to lift its share price above $1 by October 12, 2026.
Avalon GloboCare Corp., trading as ALBT on The Nasdaq Capital Market, filed a Form S-1 dated July 10, 2026 for an offering of common stock, pre-funded warrants, common warrants, and placement agent warrants, with size and pricing left blank pending market conditions.
The filing states that on April 15, 2026, the company received written notice from Nasdaq that it was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of its common stock had been below $1.00 per share for 30 consecutive business days.1 Under Nasdaq rules, the company has a period of 180 calendar days, or until October 12, 2026, to regain compliance, which requires the closing bid price to meet or exceed $1.00 per share for at least 10 consecutive business days during that period.1 If it does not regain compliance by that date, it may be eligible for an additional 180-day grace period if it meets other continued listing standards and notifies Nasdaq of its intention to cure the deficiency, including by a reverse stock split if necessary.1 Only if it fails that second period would Nasdaq notify the company of a determination to delist the stock, with an option to appeal to a Nasdaq hearings panel.1
Financially, the company reported net losses from continuing operations of approximately $4.48 million and $2.48 million for the three months ended March 31, 2026 and 2025, respectively, and approximately $17.5 million and $7.0 million for the years ended December 31, 2025 and 2024, respectively.1 As of March 31, 2026 and December 31, 2025, the accumulated deficit stood at approximately $110.4 million and $105.9 million.1 The auditor included an explanatory paragraph expressing substantial doubt about the company's ability to continue as a going concern.1
The company operates through an AI software segment built around RPM Interactive, acquired in December 2025, and a Keto Air breathalyzer consumer health segment, and said its Keto Air product has generated minimal revenue to date, with meaningful revenue from the Catch-Up platform expected roughly one year from the prospectus date.1
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