Company: NIVFW
Filing Date: 2025-05-15
Form Type: 20-F/A
Source: 0001213900-25-043940
Chunk: 16

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-15
Form: 20-F/A
Chunk 16
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 the delisting
determination and undertook several strategic actions to regain compliance with Nasdaq’s listing require. On February 27, 2025.
received approval for the transfer the Company’s securities from the Nasdaq Global Market to the Nasdaq Capital Market and on March
10, 2025 its compliance with the listing requirements thereof.

On June 3, 2024, the Company announced the execution of a non-binding
term sheet (the “Term Sheet”) regarding a proposed reverse merger (the “Proposed Transaction”) with pharmaceutical
company COVIRIX Medical Pty Ltd (“COVIRIX”). The consideration was to be settled by way of the issuance of issue
of its ordinary shares to the shareholder(s) of COVIRIX or their respective nominees (the “COVIRIX Shareholders”) in exchange
for % equity interest of COVIRIX, at a deemed price per share of US$, representing an aggregate amount of US$. Simultaneously,
it is proposed that COVIRIX undertakes to introduce investors to raise US$ million at US$ per share for NIVF, in a form mutually acceptable
to both NewGen and COVIRIX. Following stockholder approval of the Proposed Transaction, COVIRIX Shareholders are expected to hold approximately
% equity interest in NewGen. However, on September 21, 2024, COVIRIX withdrew from the Proposed Transaction, as such the Proposed
Transaction was terminated with no cost to the Company.

On August 7, 2024, the Company
entered into a Securities Purchase Agreement with certain investors named therein (collectively, the “Buyers”), pursuant to
which, amongst other things: (i) the Company agreed to sell, at an initial closing with JAK Opportunities VI LLC (“JAK” and
such initial closing, the “Initial Closing”), pursuant to which the Company agreed to sell to JAK (a) a senior convertible
note (the “Initial Note”) in the aggregate original principal amount not exceeding $), and which terms are further
set forth below under the subheading “(ii) Initial Closing with JAK”), (b) a warrant to purchase Class A Ordinary
Shares of the Company, no par value (“Class A Shares” and such warrant, the Series A Warrant), and (c) a warrant to purchase
Class B Ordinary Shares of the Company, no par value (“Class B Shares” and such warrant, the Series B Warrant, and