Why Is Fertility Treatment-Focused Firm INVO Bioscience Stock Trading Over 100% Higher Today?
Portfolio Pulse from Vandana Singh
INVO Bioscience Inc (NASDAQ:INVO) is experiencing a surge in stock price, trading over 100% higher, following its announcement of soliciting waivers from holders of common stock purchase warrants related to its upcoming merger with NAYA Biosciences Inc. The merger, agreed last month, is an all-stock deal where NAYA shareholders will receive 7.3333 INVO shares per NAYA share, totaling approximately 18.15 million INVO shares. Post-merger, the company will operate as NAYA Biosciences with Daniel Teper as Chairman and CEO. The waiver solicitation expires on November 15, 2023. INVO's stock volume soared to 49.8 million shares, significantly higher than the 100-day average of 1.81 million shares.
November 10, 2023 | 5:42 pm
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POSITIVE IMPACT
INVO Bioscience's stock has surged over 100% after the company announced the solicitation of waivers for its merger with NAYA Biosciences. The high trading volume suggests strong investor interest in the merger's progress and potential.
The significant increase in INVO's stock price is directly related to the announcement of the waiver solicitation, which is a key step towards finalizing the merger with NAYA Biosciences. The high trading volume and the substantial rise in stock price reflect positive investor sentiment and the potential for the merger to create value. The short-term impact is likely to be positive as the market responds to the progress of the merger.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100