NewGenIvf Group Limited - NIVF STOCK NEWS

NewGenIvf Group (NASDAQ: NIVF) has announced a strategic investment in digital assets, deploying US$1 million through OSL Digital Securities, a regulated digital asset platform in Hong Kong. The company's portfolio allocation includes 55% in Bitcoin and Ethereum, 10% in Tether stablecoin, and 35% in various mid- and small-cap cryptocurrencies.

The investment represents NewGen's entry into the cryptocurrency market, aiming to diversify revenue streams while managing risk exposure. The company selected OSL as custodian based on their compliance and security capabilities in digital assets management.

NewGen (NASDAQ: NIVF) has signed a binding term sheet for a reverse merger with European Wellness Investment Holdings (EWIHL) in a US$452 million transaction at US$3.20 per share. The deal involves NewGen issuing 141,250,000 ordinary shares in exchange for 100% equity of EWIHL, with EWIHL shareholders expected to hold 61.6% equity post-transaction.

The merger aims to create synergistic value through EWIHL's healthcare products complementing NewGen's fertility treatments and leveraging their distribution network. The increased market capitalization is expected to support NewGen's continued Nasdaq Global Market listing, addressing previous delisting concerns. The company has secured an equity line of credit to support the transaction.

NewGenIvf Group (NASDAQ: NIVF) received a delisting notice from Nasdaq on November 21, 2024, due to non-compliance with two listing requirements: the minimum $15 million Market Value of Publicly Held Shares and $50 million Market Value of Listed Securities. The company plans to appeal the delisting and has secured two major funding arrangements: a $29.48 million convertible note facility with ATW Partners and a $100 million equity line of credit (expandable to $500 million) with White Lion Capital. NewGen will also apply to transfer from Nasdaq Global Market to Nasdaq Capital Market to maintain its listing status.

NewGenIvf Group (NASDAQ: NIVF) has entered into a binding term sheet with White Lion Capital for a $100 million equity line of credit, which can be expanded to $500 million. The initial agreement allows NewGen to sell up to $100 million in common stock over 36 months, with potential increases to $300 million upon substantial M&A activity, and further to $500 million after $250 million has been drawn. The facility can be extended to 65 months, and its implementation is subject to definitive agreements and registration statement filing. The company views this as a strategic tool for expansion across Asia and potential acquisitions.

NewGenIvf Group (NASDAQ: NIVF) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's Class A Ordinary Shares failed to maintain a closing bid price of at least $1 for 30 consecutive business days, violating Nasdaq Listing Rule 5450(a)(1).

NewGenIvf has until April 7, 2025, to regain compliance by achieving a closing bid price of $1 or higher for a minimum of ten consecutive business days. If compliance is not achieved by this date, the company may face delisting. However, NewGenIvf may be eligible for additional time to cure the deficiency.

The company plans to monitor its stock price and consider options to regain compliance. Meanwhile, NIVF shares will continue to trade on Nasdaq without interruption.

NewGenIvf Group (NASDAQ: NIVF), a comprehensive fertility services provider in Asia, filed its 2023 annual report with the SEC on August 19, 2024. Key financial highlights include:

• Total revenues of US$5.1 million in 2023
• Gross profit increased by 9.4% to US$1.7 million
• Gross margin improved to 32.8% from 25.9% in 2022
• Net income of US$0.1 million

The company secured a senior unsecured convertible note facility of up to US$13.3 million to fund expansion plans. NewGenIvf is also evaluating a proposed reverse merger with COVIRIX Medical Pty The company aims to capitalize on the growing demand for fertility services in Asia and upcoming legal changes in Thailand regarding commercial surrogacy and same-sex marriage.

NewGenIvf Group (NASDAQ: NIVF) has provided an update on its proposed reverse merger with COVIRIX Medical Pty The company anticipates completing the transaction by the end of August 2024, subject to regulatory approvals. Key highlights include:

1. COVIRIX's ongoing antiviral research at a U.S. university, focusing on respiratory diseases.
2. COVIRIX holds 80,000 Zucoins crypto tokens, potentially representing significant value.
3. The merger aims to create a multifaceted healthcare company.
4. COVIRIX has engaged a U.S. university for an in vitro study of its patented antiviral drug candidate.
5. NewGen proposes to issue 102,890,000 shares to COVIRIX shareholders, valued at US$617,340,000.
6. COVIRIX to introduce investors to raise US$6 million for NIVF at US$6 per share.

NewGenIvf Group (NASDAQ: NIVF) announced ongoing evaluation of a potential reverse merger with COVIRIX Medical Pty The companies have made significant progress in due diligence, with a target completion date for a non-binding term sheet by the end of August 2024. COVIRIX's crypto asset, nearly matching NewGenIvf’s market capitalization, could support its drug development program. Furthermore, NewGenIvf has secured a major contract for its IVF and surrogacy services until the end of 2025. The proposed merger would involve issuing 102.89 million NewGen shares to COVIRIX shareholders in exchange for 100% equity, valuing the transaction at $617.34 million. Post-merger, COVIRIX shareholders would hold approximately 85.8% of NewGen's equity.

NewGenIvf Group (NASDAQ: NIVF), a fertility services provider in Asia, has signed a non-binding term sheet for a potential reverse merger with COVIRIX Medical Pty , a pharmaceutical company specializing in antiviral therapies. This merger aims to create strategic synergies, leveraging NewGen's distribution network and COVIRIX's drug pipeline to enhance prenatal and postnatal care. The transaction includes a proposed $6 million fundraising and could result in COVIRIX shareholders holding 85.8% of NewGen's equity. The deal is subject to due diligence, financing, and approvals.