Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 152

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 152
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 ASCA
agreed to waive its termination rights and the right to receive any break-up fee due to Legacy NewGenIvf’s failure to deliver audited
financial statements by no later than February 28, 2023.

On December 6, 2023, the
parties to the Merger Agreement entered into the Second Amendment to the Merger Agreement (the “ Second Amendment”) which amended
and modified the Merger Agreement to, among other things, (i) reduce the size of NewGenIvf’s board of directors following the consummation
of the Business Combination to five (5) directors, two (2) of whom would be executive directors designated by NewGenIvf and three (3)
of whom will be designated by NewGenIvf to serve as independent directors in accordance with Nasdaq requirements, (ii) provide for the
conversion of NewGenIvf shares issued by NewGenIvf following the original date of the Merger Agreement into Class A Ordinary Shares in
connection with the Acquisition Merger, and (iii) remove the condition that ASCA have in excess of $5,000,000in net tangible assets immediately
after the consummation of the Business Combination.

On April 3, 2024, the Business
Combination was consummated with the Company as the surviving entity.

F-8

The following is an organization chart of the
Company and its subsidiaries as of December 31, 2024:

The Company’s subsidiaries are detailed
in the table as follows:

  Name                                                                             Background                               Ownership %      Principal activity                                                   
  NewGenivf Limited                                                                ● A Cayman Islands company                      100%      Investment holding                                                   
                                                                                                                                                                                                                  
                                                                                   ● Incorporated on 16 January, 2019                                                                                             
  FFPGS (HK) Limited                                                               ● A Hong Kong company                           100%      Marketing and administrative services                                
                                                                                                                                                                                                                  
                                                                                   ● Incorporated on December 19, 2019                                                                                            
  Well Image Limited                                                               ● A Hong Kong company                           100%      Investment holding                                                   
                                                                                                                                                                                                                  
                                                                                   ● Incorporated on July 11, 2008                                                                                                
  Med Holdings Limited (“ Med Holdings”) (Note)                                    ● A Thailand company                            49%*      Investment holding                                                   
                                                                                                                                                                                                                  
                                                                                   ● Incorporated on January 21, 2015                                                                                             
  First Fertility PGS Center Limited (“ FFC”) (Note)                               ● A Thailand company                             74%