NewGenIvf Provides Update On Status Of Potential Reverse Merger With COVIRIX, Pursuant To The Term Sheet, It Is Proposed That NewGen Will Issue 102.89M Of Ordinary Shares To COVIRIX For 100% Equity Interest Of COVIRIX At $617.34M
Portfolio Pulse from Benzinga Newsdesk
NewGenIvf has provided an update on its potential reverse merger with COVIRIX. According to the term sheet, NewGen will issue 102.89 million ordinary shares to COVIRIX for a 100% equity interest in COVIRIX, valued at $617.34 million.
June 20, 2024 | 11:10 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
NewGenIvf is in the process of a potential reverse merger with COVIRIX, where it will issue 102.89 million shares for a 100% equity interest in COVIRIX, valued at $617.34 million.
The reverse merger with COVIRIX is a significant corporate action for NewGenIvf, potentially increasing its market value and expanding its business operations. The issuance of new shares and the acquisition of COVIRIX could positively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100