NewGenIvf Enters into a Binding Term Sheet with White Lion Capital for $100 Million Equity Line of Credit, Expandable to $500 Million
18 Novembro 2024 - 9:00AM
NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”),
today announced that it has entered into a binding term sheet (the
“Term Sheet”) with White Lion Capital, LLC, (“White Lion”) a
California-based institutional investor focused on high-growth,
early-stage public companies, setting out the principal terms and
conditions for a $100 million equity line of credit, expandable to
$500 million.
Pursuant to the Term Sheet, NewGen will have the option, but not
the obligation, to sell to White Lion up to $100.0 million in
shares of common stock over an initial 36-month period, with the
potential to increase to $300.0 million upon substantial M&A or
merger activity, and further to $500.0 million after $250.0 million
has been drawn. The transactions contemplated by the Term Sheet are
subject to entry into definitive agreements, and are subject to
certain conditions, including a registration statement being filed
immediately upon execution of the definitive agreements.
Mr. Siu Wing Fung Alfred, Founder, Chairman, and CEO of NewGen
commented, “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.”
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About NewGen
NewGen is a comprehensive fertility services provider in Asia
helping couples and individuals obtain access to fertility
treatments. With a mission to aid couples and individuals in
building families regardless of fertility challenges, NewGen has
dedicated itself to creating increased access to infertility
treatment and providing comprehensive fertility services for its
customers. NewGen's management team collectively has over a decade
of experience in the fertility industry. NewGen's clinics are
located in Thailand, Cambodia, and Kyrgyzstan, and present a full
suite of services for its patients, including comprehensive
infertility and assisted reproductive technology treatments, egg
and sperm donation, and surrogacy, in the appropriate
jurisdictions, respectively. To learn more, visit
www.newgenivf.com. The information contained on, or accessible
through, NewGen's website is not incorporated by reference into
this press release, and you should not consider it a part of this
press release.
Forward-Looking Statements
This press release contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Without limiting the generality of the
foregoing, the forward-looking statements in this press release
include descriptions of the Company’s future commercial operations,
business strategy, financial condition, and planned acquisitions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, such as the Company’s inability to implement its business
plans, identify and realize additional opportunities, meet or
exceed its financial projections and changes in the regulatory or
competitive environment in which the Company operates, agree on
definitive documentation with White Lion Capital for the equity
line of credit, or satisfy all of the conditions contained in the
definitive documents to utilize the option to sell shares to White
Lion. You should carefully consider the foregoing factors and the
other risks and uncertainties described in the Company’s annual
report on Form 20-F and other documents filed or to be filed by the
Company with the SEC from time to time, which could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Copies of these documents are available
on the SEC’s website, www.sec.gov. All information provided herein
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
Investor Relations Contact
ICR, LLCRobin YangPhone: +1 (212)
537-4406Email: Newgenivf.IR@icrinc.com
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