Company: NIVFW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001213900-25-048554
Chunk: 185

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 185
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 Rules.
On November 21, 2024, a delisting notice was received from the continued non-compliance. The Company had filed to appeal 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 (pre Reverse Stock Splits) 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 of $, 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 (subject to Reverse Stock Split adjustments), no par value (“Class A Shares” and such warrant