ABVC BioPharma, Inc. (NASDAQ: ABVC) announced today its planned spin-off of BioKey (Cayman), Inc. through a dividend distribution of approximately 15% of BioKey's outstanding ordinary shares to ABVC shareholders. The distribution is expected to occur on August 3, 2026, for shareholders of record as of July 24, 2026, subject to regulatory approvals.
BioKey operates as a nutraceutical and functional-supplement research, development, and manufacturing company with a fully integrated contract research organization (CRO) and contract development and manufacturing organization (CDMO) platform. Through its California subsidiary, BioKey, Inc., the company offers services including contract research, formulation development, cGMP manufacturing, and regulatory support to partners in Asia and North America. BioKey also plans to integrate artificial intelligence into its services in the future.
ABVC will distribute approximately 4.5 million ordinary shares, representing 15% of BioKey's issued and outstanding shares, as a pro rata dividend. Shareholders do not need to take any action to receive their shares, and no consideration is required. The distribution will be handled by VStock Transfer, LLC as distribution agent.
Currently, there is no public trading market for BioKey ordinary shares. BioKey intends to apply for quotation on the OTC Markets after the distribution, but there is no guarantee that an active trading market will develop. Until then, holders of BioKey shares will not be able to sell or transfer them publicly. ABVC common stock will continue trading on Nasdaq under the symbol "ABVC."
Dr. Uttam Patil, ABVC's CEO, stated, "We believe the BioKey transaction provides an opportunity to highlight the underlying value of our businesses while maintaining our commitment to long-term shareholder value creation." The spin-off is part of ABVC's strategy to unlock value from its subsidiaries, technology platforms, and investments.
ABVC BioPharma is a clinical-stage biopharmaceutical company with a pipeline of six drugs and one medical device under development. It in-licenses technology from institutions such as Stanford University, UC San Francisco, and Cedars-Sinai Medical Center. BioKey, established as a wholly owned subsidiary, holds four FDA-approved Abbreviated New Drug Applications and operates a cGMP-certified facility in Fremont, California.
Following the distribution, BioKey plans to pursue independent growth opportunities, strategic acquisitions, and technology partnerships. Management believes that establishing BioKey as a separate entity will provide greater operational visibility and strategic flexibility.
Additional details are available in the Information Statement accompanying the Form 10 filed with the SEC on June 22, 2026. The Company's filings can be accessed at http://www.sec.gov.
