NewGenIvf Inks Non-Binding $617.34M Deal for Potential Reverse Merger with Pharma Company COVIRIX
Portfolio Pulse from Benzinga Newsdesk
NewGenIvf Group (NASDAQ:NIVF) has announced a non-binding term sheet for a potential reverse merger with pharmaceutical company COVIRIX Medical Pty Ltd. The deal, valued at $617.34 million, would result in COVIRIX shareholders holding approximately 85.8% equity interest in NewGen. The transaction is subject to due diligence, financing, and stockholder approval.
June 03, 2024 | 11:14 am
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NewGenIvf Group has signed a non-binding term sheet for a $617.34 million reverse merger with COVIRIX Medical Pty Ltd. If completed, COVIRIX shareholders will hold 85.8% equity in NewGen.
The announcement of a potential reverse merger with COVIRIX could positively impact NIVF's stock price in the short term due to the significant valuation and potential for future growth. However, the deal is still non-binding and subject to various conditions, which introduces uncertainty.
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