M&A - Advanced Biomed Inc.

Form Type: CORRESP

Filing Date: 2023-07-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000157587223001182

Filing Summary: On July 18, 2023, Advanced Biomed Inc. submitted a letter responding to comments from the SEC regarding their Registration Statement on Form S-1, filed June 20, 2023. The letter outlined various revisions made in Amendment No. 2 of the Registration Statement, addressing market analysis clarifications, risks associated with the National Medical Insurance Program coverage for the A+LCGuard product, and details surrounding the acquisition of Advanced Biomed Inc. (Taiwan) by Dr. Yi Lu. The amendment included responses to prior comments about financial disclosures and the nature of business operations. Additionally, the company clarified its accounting treatment following prior acquisitions, and the implications of a significant deficiency in their accounting practices were discussed, concluding that it did not constitute a material weakness. Further details reflected the adjustment of financial statements to account for prior periods under common control following the acquisition.

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