Exhibit 4.8


 


Subscription Agreement of Avalon GloboCare
Corp. Common Stock


 


This subscription
agreement (this “Subscription”) is dated                    , 2018, by and between the investor identified on the signature
page hereto (the “Investor”) and Avalon GloboCare Corp., a Delaware corporation (the “Company”).
The parties agree as follows:


 


1.             Subscription.
Investor agrees to buy and the Company agrees to sell to Investor such number of shares (the “Shares”) of the
Company’s Common Stock, $0.0001 par value per share (the “Common Stock”), as set forth on the signature
page hereto, for an aggregate purchase price (the “Purchase Price”) equal to the product of (x) the aggregate
number of Shares the Investor has agreed to purchase and (y) the purchase price per share as set forth on the signature page hereto.
The Shares are being registered for sale pursuant to a Registration Statement on Form S-1, Registration No. 333- 224343 (the “Registration
Statement”). The Registration Statement will have been declared effective by the Securities and Exchange Commission (the
“Commission”) prior to issuance of any Shares and acceptance of any Investor’s subscription. The prospectus,
however, is subject to change. A final prospectus and/or prospectus supplement will be delivered to the Investor as required by
law. The Shares are being offered by Boustead Securities, LLC (the “Underwriter”) as Underwriter on a “best
efforts” basis up to $5,000,000. The completion of the purchase and sale of the Shares (the “Closing”)
shall take place at a place and time (the “Closing Date”) to be specified by the Company and Underwriter in
accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Upon satisfaction or waiver of all the conditions to closing set forth in the preliminary prospectus contained in the Registration
Statement when it is declared effective by the Commission, at the Closing (i) the Purchase Price deposited by the Investor subsequent
to the declaration of effectiveness of the Registration Statement by wire transfer of immediately available funds per wire instructions
as provided on the signature line below, and (ii) the Company shall cause the Shares to be delivered to the Investor through the
book-entry delivery of Shares on the books and records of the transfer agent. The Company shall send written confirmation of such
delivery to the Investor at the address indicated on the Signature Page hereof. No fractional Shares shall be purchased and any
excess funds representing fractional Shares shall be returned to the Investor. By payment of the Shares, the Investor acknowledges
receipt of the Registration Statement and any amendment, the terms of which govern the investment in the Shares.


 


Each of the Underwriter and
any participating broker dealers (the “Members”) shall confirm, via the sales agency agreement, selected dealer
agreement or master selected dealer agreement, as applicable, that it will comply with Rule 15c2-4 under the Exchange Act. In regard
to monies being wired from an investor’s bank account, the Members shall request the investors to send their wires by the
business day immediately following the receipt of a completed subscription document. In regards to monies being sent from an investors
account held at the participating broker, the funds will be “promptly transmitted” following the receipt of a completed
subscription document and completed wire instructions by the investor to send funds to the Company. Absent unusual circumstances,
funds in customer accounts will be transmitted by noon of the next business day. In the event that the offering does not close
for any reason prior to the termination date set forth in the Registration Statement, all funds will be returned to investors promptly
in accordance with applicable law.


 


2.            Miscellaneous.
This Subscription may be executed in any number of counterparts, all of which taken together shall constitute one and the same
instrument and shall become effective when counterparts have been signed by each party and delivered to the other parties hereto,
it being understood that all parties need not sign the same counterpart. Execution may be made by delivery by facsimile or via
electronic format. All communications hereunder, except as otherwise specifically provided herein, shall be in writing and shall
be mailed, hand delivered, sent by a recognized overnight courier service such as Federal Express, or sent via facsimile or e-mail
transmission, to the party to whom it is addressed at the following addresses or such other address as such party may advise the
other in writing (i) to the Company: as set forth on the signature page hereto and (ii) to the Investor: as set forth on the signature
page hereto. All notices hereunder shall be effective upon receipt by the party to which it is addressed.


 




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[Signature Page to Investor
Subscription Agreement for Avalon GloboCare Corp.]


 


If the foregoing correctly sets forth our agreement,
please confirm this by signing and returning to us the duplicate copy of this Subscription.


	Number of
    Shares: ______________	Avalon GloboCare Corp.
	Purchase Price per Share: $_______	 
	Aggregate Purchase Price: $________	By: 
	Address for Notice:	Name:
	_________________________________	Title:
	
         

        INVESTOR OR ITS AGENT:

         

        By: ______________________________

         

        Name:

         

        Title:
	
        Address for Notice:

         

        4400 Route 9 South

        Suite 3100

        Freehold, New Jersey 07728



 


DRS ELECTRONIC BOOK ENTRY CONFIRMATION (hold
shares at transfer agent) Delivery Instructions:


 


Name in which Shares should be issued:____________ 


Address for Shareholder: Street___________________ 


City/State/Zip:______________________ ; Attention:


Telephone No.: ______________________ 


 


WIRE PAYMENT INSTRUCTIONS:


 


NO WIRE TRANSFERS MAY
BE MADE TO THE COMPANY’S ACCOUNT, DIRECTLY OR THROUGH ANY UNDERWRITER UNLESS AND UNTIL: (A) THE REGISTRATION STATEMENT HAS
BEEN DECLARED EFFECTIVE BY THE COMMISSION, AND (B) A COPY OF THIS SUBSCRIPTION AGREEMENT, DULY EXECUTED BY THE SUBSCRIBER OR ITS
AGENT, HAS BEEN DELIVERED.


 


To the following instructions:


 


Avalon GloboCare Corporation


4400 Route 9 South, Suite 3100


Freehold,
New Jersey 07728


 


[__________]





 


Please email back the completed
Subscription Agreement to
angela@boustead1828.com or fax to +1(949) 266-5789


 




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CERTIFICATE FOR THE PURCHASE OF INITIAL
PUBLIC OFFERINGS OF EQUITY SECURITIES


 


Pursuant to FINRA Rule 5130 (formerly
NASD Rule 2790) (the “ New Issue Rule”), firms may not sell or cause to be sold a new issue
(as defined in the New Issue Rule; generally, initial public offerings of equity securities) to any account in which a restricted
person holds a beneficial interest unless the account qualifies for a general exemption under the New Issue Rule.
We require that you sign and return this Certificate indicating whether or not your account is eligible to purchase PUBLIC OFFERING
shares in accordance with the New Issue Rule.


 


In addition, pursuant to FINRA
Rule 5131 (the “ PUBLIC OFFERING Allocation Rule”), firms may not under certain circumstances allocate
shares of a new issue to any account in which an executive officer or director of a public company or a covered non-public
company, or a person materially supported by such executive officer or director (collectively, “ Covered
Persons”), has a beneficial interest unless the account qualifies for a general exemption.


 


In addition, in connection with
any new issue, you hereby represent that you will not act as a finder or in a fiduciary capacity to any managing underwriter of
any new issue and that you shall notify us immediately in the event that such representation ceases to be true and correct.


 


All bolded terms relating to the New Issue Rule
or the PUBLIC OFFERING Allocation Rule are defined in Annex A. SECTION A. NEW ISSUE RULE (FINRA RULE 5130)
(CHECK ONE BOX ONLY)


 


		☐	The undersigned hereby certifies, on behalf of each account for which it purchases new issues
                                                                             on or after the date hereof, that:



 


		☐	The account(s) is eligible to purchase new issues either because no restricted person (which
                                                                             includes those accounts that satisfy a general exemption listed on Annex A and/or, are not restricted persons based on the
                                                                             definition in Annex A) holds a beneficial interest in the account(s), or because the account(s) has implemented procedures to
                                                                             reduce the beneficial interests of all restricted persons with respect to new issues to below in the aggregate 10%, and the
                                                                             undersigned hereby represents that it will follow such procedures in connection with the purchase by the account(s) of all
                                                                             new issues; OR



 


The undersigned is a conduit (such as a bank, foreign
bank, broker/dealer or investment adviser) and all purchases of new issues are, and will be, in compliance with the New Issue Rule.
If the beneficial interests of all restricted persons in any one account(s) exceeds in the aggregate 10% of the account(s) but
the account(s) has implemented procedures to reduce the beneficial interest of all restricted persons with respect to new issues
to below in the aggregate 10%, the undersigned hereby represents that it will follow such procedures in connection with the purchase
by the account(s) of all new issues.


 


SECTION B. PUBLIC OFFERING ALLOCATION RULE (FINRA RULE
5131)


 





The undersigned hereby certifies, on behalf of each
account for which it purchases new issues on or after the date hereof, that: The account(s) is eligible to purchase new
issues either because:


 


(i)       No person
that holds a beneficial interest in the account(s) is a Covered Person OR


 





(ii)       The
account(s) is eligible to purchase new issues because the account(s) (A) meets a general exemption (See Annex A), or (B) has implemented
procedures to reduce the beneficial interests of all Covered Persons of a particular company with respect to new issues to in the
aggregate below 25%, and the undersigned hereby represents that it will follow such procedures in connection with the purchase
by the account(s) of all new issues.


 


For purposes of clause (ii)
above, the undersigned is entitled to presume that any beneficial interests in an account held by a Qualifying Private Fund (except
for interests of beneficial owners that are control persons of the investment adviser to that Qualifying Private Fund) are not
held by a Covered Person.


 


The undersigned hereby certifies
that the undersigned is authorized to provide this Certification and that the undersigned, or an authorized representative of
the account, will promptly notify Boustead Securities in the event this Certification ceases to be true and correct. In connection
to the U.S. Securities & Exchange Commission’s electronic delivery of information requirements, the undersigned agrees
to receive electronic mail for the purpose of recertifying this Certification through negative consent and to notify Boustead
Securities in writing if the undersigned does not agree to receive such communications.


 



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	Institution Name	Address, City, State, Zip
	Name of Authorized Signatory	Date (mm/dd/yy)	Tax ID / EIN / Reg No
	Title of Authorized Signatory	Telephone
	Signature of Authorized Signatory	Email Address


 


SECTION C. Investor Representations.


 


	1.	Investor represents that it has received (or otherwise had access to the electronic filing on the
SEC website) the Prospectus prior to or in connection with receipt of this Agreement.



 


	2.	Investor represents that it understands and acknowledges that Investor’s subscription for
the Shares indicated on the Signature Page hereto may be accepted or rejected in whole or in part by the Company, for any reason
and in their sole and absolute discretion.



 




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ANNEX


 


General Exemptions:


 


		1.	An investment company registered under the Investment
Company Act of 1940.



		2.	A common trust fund or similar fund as described in Section 3(a)(12)(A)(iii) of the Securities
Exchange Act of 1934, provided that: (i) the fund has investments from 1,000 or more accounts, and (ii) the fund does not limit
beneficial interests in the fund principally to trust accounts of restricted persons.






		3.	An insurance company general, separate or investment account, provided: (i) the account is funded
by premiums from 1,000 or more policyholders or, if a general account, the insurance company has 1,000 or more policyholders, and
(ii) the insurance company does not limit the policyholders whose premiums are used to fund the account principally to restricted
persons, or if a general account, the insurance company does not limit its policyholders principally to restricted persons.






		4.	An account, including a fund, limited partnership, joint back office broker-dealer
or other entity, if the beneficial interests of:



		a.	For purposes of Section A, restricted persons, in the aggregate, do not exceed 10% of the account
under the New Issue Rule (FINRA Rule 5130);



		b.	For purposes of Section B, covered persons of a particular company, in the aggregate, do not exceed
25% of the account under the PUBLIC OFFERING Allocation Rule (FINRA Rule 5131).



		5.	A publicly traded entity (other than a broker-dealer authorized to engage
in the public offering of new issues either as a selling group member or underwriter, or an affiliate of such a broker-dealer)
that is: (i) listed on a U.S. national securities exchange, (ii) a non-U.S. issuer whose securities meet the quantitative designation
criteria for listing on a national securities exchange.



		6.	An investment company organized under the laws of a non-U.S. jurisdiction, provided that: (i)
the investment company is listed on a non-U.S. exchange or authorized for sale to the public by a non-U.S. regulatory authority,
and (ii) no person owning 5% or more of the shares of the investment company is a restricted person.



		7.	An ERISA benefit plan that is qualified under Section 40 1(a) of the Internal Revenue Code; provided
that the plan is not sponsored solely by a broker-dealer.



		8.	A state or municipal government benefits plan that is
subject to state or municipal regulation.



		9.	A tax-exempt charitable organization under Section 50
1(c)(3) of the Internal Revenue Code.



		10.	A church plan under Section 414(e) of the Internal Revenue
Code.



 


		1.	Restricted
                                         Persons/Entities under the New Issue Rule:



 


		1.	A
FINRA member firm or other broker-dealer.



		2.	An officer, director, general partner, associated person or employee of a FINRA member firm
or any other broker-dealer (other than a limited business broker-dealer).



		3.	An agent of a FINRA member firm or any other broker-dealer (other than a limited business broker-dealer)
that is engaged in the investment banking or securities business.



		4.	A person who has authority to buy or sell securities for a bank, savings and loan association,
insurance company, investment company, investment adviser (whether or not registered as an investment adviser) or collective
investment account.



		5.	A person listed, or required to be listed, on one of the following schedules to Form BD as filed, or required to be filed,
with the SEC by a broker- dealer (other than with respect to a limited broker-dealer): (i) Schedule A, unless the person
is identified by an ownership code of less than 10%; (ii) Schedule B, unless the person’s listing on
Schedule B relates to an ownership interest in a person that is listed on Schedule A and identified by an ownership code of less
than 10%; or (iii) Schedule C, unless the person would be excluded under the percentage ownership criteria for Schedule
A or B above.






		6.	A person that directly or indirectly owns an interest, in the amounts specified below, of a public
reporting company listed, or required to be listed, on Schedule A or B of Form BD relating to a broker-dealer (other than a limited
business broker-dealer), unless the public reporting company is listed on a national securities exchange: (i) 10%
or more of a public reporting company listed, or required to be listed, on Schedule A; or (ii) 25% or more of a public reporting
company listed, or required to be listed, on Schedule B.






		7.	A person acting: (i) as a finder in connection with any new issue in which the person
is participating or (ii) in a fiduciary capacity to the managing underwriter(s) in connection with any new issue in which the person
is participating.



		8.	An immediate family member of: (i) a person specified in items
                                                           2-7 that materially supports, or receives support from, that person; (ii) a person specified in items 2-3 that is employed by or associated with the FINRA member or its affiliate selling the new issue to the immediate family member, or that has an ability to control the allocation of the new
                                       issue; or (iii) a person specified in items 5-6 that is an owner of the FINRA member or its affiliate selling the new issue to the immediate family member, or that has an ability to control the allocation of the new issue.





 







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2.     Other New
Issue Rule and PUBLIC OFFERING Allocation Rule Definitions:


 


Associated
person or employee of a FINRA member firm. (1) Any natural person registered with FINRA and (2) any natural person,
whether or not registered or exempt from registration with FINRA, who is a sole proprietor, partner, officer, director, or
branch manager of a FINRA member firm, or any natural person occupying a similar status or performing similar functions, or
any natural person engaged in the investment banking or securities business who is directly or indirectly controlling or
controlled by a FINRA member firm (for example, any employee).


Beneficial
interest. Any economic interest, including the right to share in gains or losses, other than management or
performance based fees for operating a collective investment account, or other fees for acting in a fiduciary capacity.


Collective
investment account. Any hedge fund, investment partnership, investment corporation, or any other collective
investment vehicle that is engaged primarily in the purchase and sale of securities, but not (1) a legal entity that is
beneficially owned solely by immediate family members or (2) an investment club comprising a group of friends, neighbors,
business associates or others who pool their money to invest in stock or other securities and are collectively responsible
for making investment decisions.


Covered non-public
company. Any non-public company satisfying the following criteria: (i) income of at least $1 million in the last fiscal
year or in two of the last three fiscal years and shareholders’ equity of at least $15 million; (ii) shareholders’
equity of at least $30 million and a two-year operating history; or (iii) total assets and total revenue of at least $75 million
in the latest fiscal year or in two of the last three fiscal years.


Covered
Person. An executive officer or director of a public company or a covered non-public company, or a person materially
supported by such executive officer or director.


Executive
officer or director. Any (i) person named as an executive officer or director in a U.S. public company’s most
recent proxy filed with the SEC or in an annual report filed with the SEC on Form 10-K or Form 20-F, (ii) executive officer
or director of a foreign company that is registered with the SEC under the ‘34 Act, as amended, or (iii) executive
officer or director of a covered non-public company.


Finder. A person who receives compensation
for identifying potential investors in an offering.


FINRA Member. A member of the Financial
Industry Regulatory Authority or any person or entity associated with a FINRA member firm.


Immediate family member. A person’s
parents, mother-in-law or father-in-law, spouse, brother or sister, brother-in-law or sister-in-law, son-in-law or daughter-in-law
and children, and any other individual to whom the person provides material support.


PUBLIC OFFERING Allocation Rule. FINRA
Rule 5131.


Limited business broker-dealer.
Any broker-dealer whose authorization to engage in the securities business is limited solely to the purchase and sale of investment
company/variable contracts securities and direct participation program securities.


Material support. Directly or indirectly
providing more than 25% of a person’s income in the prior calendar year. Members of the immediate family living in the same
household are deemed to be providing each other with material support.


New Issue Rule. FINRA Rule 5130.


Public
Company. Any company that is registered under Section 12 of the Securities Exchange or files period reports pursuant
to Section 15(d) thereof.


Qualifying Private Fund: An unaffiliated
private fund invested in an account that:


		(1)	is managed by an investment adviser;



		(2)	has assets greater than $50 million;



		(3)	owns less than 25% of the account and is not a fund in which a single investor has a beneficial
interest of 25% or more;



		(4)	was not formed for the specific purpose of investing in the account.



Unaffiliated private fund: A “ private fund”,
as defined in Section 202(a)(29) of the Investment Advisers Act, whose investment adviser does not have a control person in common
with the investment adviser to the account. A control person of an investment adviser for these purposes is a person with direct
or indirect “ control” over the investment adviser, as that term is defined in Form ADV.


 





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