NewGenIvf Signs Binding Term Sheet for $100M Equity Line of Credit, Expandable to $500M

November 18, 2024

DENVER, Colo., Nov 18, 2024 (247marketnews.com)- NewGenIvf Group (NASDAQ: NIVF) reported entering into a binding term sheet for a $100 million equity line of credit, expandable to $500 million, with White Lion Capital, an institutional investor that’s focused on high-growth, early-stage public companies.

The term sheet provides NewGen the option, but not the obligation, to sell to White Lion up to $100 million in shares of common stock over an initial 3-year period, which is expandable up to $500 million after certain milestones have been met.

Siu Wing Fung Alfred, NewGen’s Founder, Chairman, and CEO, stated, “This major agreement marks another significant milestone in NewGen’s growth trajectory. With an initial commitment of $100 million, expandable to $500 million, this facility provides us with substantial financial flexibility and demonstrates the confidence our new institutional partner has in our business model and growth prospects.

“From a strategic perspective, this financing facility aligns perfectly with our expansion plans across Asia. Importantly, the agreement’s built-in scalability, particularly the provision to increase to $300 million upon substantial M&A or merger activity, gives us the firepower to act decisively when further opportunities arise in our rapidly evolving market. The flexibility to draw capital at our discretion enables us to maintain our strong balance sheet while pursuing potential strategic acquisitions. Moreover, the 36-month term, extendable to 65 months, provides us with a long-term capital partner to support our growth initiatives. We welcome White Lion to our roster of shareholders and look forward to strategically deploying this capital to drive sustainable growth and shareholder value.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (NIVF)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.