Novo Integrated Sciences Receives ~$78M Commencement Of Disbursement Notice For Standby Letter Of Credit Leasing And Monetizing Program
Portfolio Pulse from Benzinga Newsdesk
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has received notice of the commencement of disbursement for the monetization of a Standby Letter of Credit (SBLC), with an initial disbursement expected to be followed by a final distribution on or before August 2. The company is projected to receive approximately $78 million in gross funding proceeds.
July 18, 2024 | 8:10 pm
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Novo Integrated Sciences has received notice for the commencement of disbursement for the monetization of a Standby Letter of Credit, with an initial disbursement and a final distribution expected by August 2. The company is projected to receive approximately $78 million in gross funding proceeds.
The commencement of disbursement for the SBLC monetization program is a significant financial event for Novo Integrated Sciences, providing the company with substantial funding. This is likely to positively impact the company's stock price in the short term as it strengthens its financial position.
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