NewGenIvf Signs Non-Binding Term Sheet For Potential Reverse Merger With European Wellness Investment Holdings; NewGen Issues 53.6M Of Ordinary Shares To Shareholders Of EWIHL Or Associate In Exchange For 100% Equity Interest At $5/Share; Represents Aggregate Amount Of $268M
Portfolio Pulse from Benzinga Newsdesk
NewGenIvf (NIVF) has signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings (EWIHL), issuing 53.6 million of its ordinary shares at $5/share, totaling $268 million, for 100% equity interest in EWIHL. Additionally, NewGen plans to raise $30 million from shareholders in a manner agreeable to both parties.
April 22, 2024 | 1:04 pm
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NewGenIvf plans a reverse merger with EWIHL, issuing 53.6M shares at $5/share for a total of $268M and aims to raise an additional $30M from shareholders.
The announcement of a reverse merger and the issuance of shares at a significant valuation could lead to increased investor interest and potentially boost NIVF's stock price in the short term. The plan to raise additional funds indicates growth ambitions, further supporting a positive outlook.
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