Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 108

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 4A
Chunk 108
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 2023 and 2022, the Company generated net income from
operations of $13.3 million and $10.1 million, respectively.

Recent Development

On August 17, 2023, we consummated the transactions
contemplated by a Business Combination Agreement, dated as of November 21, 2022 (the “ Business Combination Agreement”) which
was modified by that certain Waiver Agreement, dated as of June 12, 2023, by and among (i) the Company, (ii) HMAC, (iii) Able View Inc.,
a Cayman Islands exempted company (the “ Target”, or “ Ableview Cayman”), (iv) Able View Corporation Inc., a Cayman
Islands exempted company and a wholly owned subsidiary of the Company (“ Merger Sub”), and (v) each of the holders of the Target’s
outstanding shares (collectively, the “ Sellers”).

On the Closing Date, pursuant to the Business
Combination Agreement, (a) HMAC merged with Merger Sub, with HMAC continuing as the surviving entity in the merger (the “ Merger”),
as a result of which: (i) HMAC became a wholly-owned subsidiary of the Company and (ii) each issued and outstanding security
of HMAC immediately prior to the consummation of the Merger was no longer outstanding and automatically cancelled, in exchange for the
right of the holder thereof to receive a substantially equivalent security of the Company specified below, and (b) the Company acquired
all of the issued and outstanding shares of Target held by the Sellers in exchange for the Class A and Class B Ordinary Shares of the
Company (“ Business Combination”). As a result of the Transactions, HMAC and Target each became a wholly-owned subsidiary
of the Company.

On December 18, 2023, HMAC, originally a holding
company, ceased being a subsidiary of the Company. The management believed the dissolution of HMAC does not represent a strategic shift,
in either operating or financing aspects, nor will it have a major effect on the Company’s operations and financial results, because
it is not changing the way Able View is running the business. The Company has not shifted the nature of its operations or major geographic
market area. The dissolution is not accounted as discontinued operations in accordance with ASC 205-20. On closing of business combination
with HMAC, the Company credited equity for the fair value of the net assets of HMAC. On disposal of HMAC, the Company debited additional