Why Novo Integrated Sciences Stock Is Up
Portfolio Pulse from Erica Kollmann
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) shares surged 34.73% after-hours following the announcement of the commencement of disbursement for the complete monetization of a Standby Letter of Credit (SBLC) and monetization program. The company expects to receive approximately $78 million in gross funding proceeds, with the final distribution anticipated by August 2.
July 18, 2024 | 9:19 pm
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Novo Integrated Sciences shares surged 34.73% after-hours following the announcement of the commencement of disbursement for the complete monetization of a Standby Letter of Credit (SBLC) and monetization program. The company expects to receive approximately $78 million in gross funding proceeds, with the final distribution anticipated by August 2.
The announcement of the commencement of disbursement for the SBLC monetization program is a significant positive development for Novo Integrated Sciences. The expected $78 million in gross funding proceeds will likely enhance the company's financial position, leading to a positive short-term impact on the stock price.
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