NewGenIvf Group Limited (NASDAQ:NIVF) shares are blasting higher Monday after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings (EWIHL).
The Details:
The term sheet proposed that NewGen issue 53,600,000 of its ordinary shares to the shareholder(s) of EWIHL in exchange for 100% equity interest of EWIHL, at a price per share of $5, representing an aggregate amount of $268 million. Simultaneously, it is proposed that NewGen raise $30 million from public or private shareholders, in a form mutually acceptable to both NewGen and EWIHL.
“I am thrilled to announce the signing of a non-binding term sheet with EWIHL, a leading healthcare company. The proposed reverse merger will bolster our position in several key ways. Operationally, it will unlock significant synergies, expand our global reach, and help us to further improve fertility outcomes for our customers. Financially, with the acquisition of a profitable business and …
Full story available on Benzinga.com
