Company: NIVFW
Filing Date: 2025-10-10
Form Type: F-1/A
Source: 0001213900-25-098135
Chunk: 235

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-10
Form: F-1/A
Chunk 235
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 of the date of issuance, subject to extension at the option of the holders in certain circumstances. The Second Additional Note are convertible at any time, at an initial conversion price of $ 0.658. On November. 18, 2024, the Company 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 $ 100million equity line of credit, expandable to $ 500million. Pursuant to the Term Sheet, NewGen will have the option, but not the obligation, to sell to White Lion up to $ 100.0million in shares of common stock over an initial 36-month period, with the potential to increase to $ 300.0million upon substantial M&A or merger activity, and further to $ 500.0million after $ 250.0million 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. On February 28, 2025, the Company completed its acquisition of the MicroSort technology from Genetics & IVF Institute, Inc. (“GIVF”). Pursuant to a Purchase Agreement dated January 21, 2025 between the Company and GIVF (“Purchase Agreement”), the Company purchased all of the Assets (as defined in the Purchase Agreement) and IP Licenses (as defined in the Purchase Agreement) relating to the MicroSort technology from GIVF for a cash consideration of $ 750,000and a share consideration of 125,000Ordinary Shares (“MicroSort Acquisition”). Under the terms of the agreement, the Company acquired the technology for US$ 5million, which was satisfied through a combination of US$ 750,000in cash and the issuance of 2,500,000ordinary shares (as was adjusted to 125,000ordinary shares after the Reverse Stock Split on February 11, 2025) at a deemed value of US$ 1.70per share. On February 18, 2025, the Company entered into a cooperation agreement with FERTILITY GROUP LLC (“BOBCARE”) to jointly develop fertility services