Company: NIVFW
Filing Date: 2025-06-03
Form Type: 424B3
Source: 0001213900-25-050825
Chunk: 197

Company: NewGenIvf Group Ltd
Filing Date: 2025-06-03
Form: 424B3
Chunk 197
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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.

On November 29, 2024, the
Company appointed Tam, Chun Wa to the Company’s Board of Directors (the “Board”). Mr. Tam will serve as an independent
director. In addition, Mr. Tam has been named to the Audit Committee of the Board. Following the appointment of Mr. Tam, the Board consists
of five members.

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated
financial statements reflect the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained. All
inter-company balances and transactions have been eliminated in consolidation.

Management has prepared the
accompanying consolidated financial statements and these notes in accordance with accounting principles generally accepted in the United States
of America (“U.S. GAAP”). The Company maintains its general ledger and journals with the accrual method accounting.

The business combination
transaction between Legacy NewGenIvf and SPAC I was accounted for as a reverse recapitalization under ASC 805, Business Combinations,
with NewGenIvf Group Limited, and deemed to be the accounting acquirer. As SPAC I did not meet the definition of a business under ASC
805, the transaction was not treated as a business combination. Instead, it was accounted for as a recapitalization.

Accordingly, the consolidated assets, liabilities
and results of operations of the accounting acquirer will become the historical financial statements of the Company, and the accounting
acquirer’s assets, liabilities and results of operations will be consolidated with the Company beginning on the acquisition date.
The Legacy NewGenIvf was the legal acquiree but deemed to be the accounting acquirer. The Company was the legal acquirer but deemed to
be the accounting acquiree in the reverse merger. The historical financial statements prior to the acquisition are those of the accounting
acquirer (Legacy NewGenivf). After completion of the Share Exchange Transaction