Company: NIVFW
Filing Date: 2025-05-20
Form Type: F-1/A
Source: 0001213900-25-045737
Chunk: 182

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-20
Form: F-1/A
Chunk 182
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 (the “Note”) in the principal amount of $ 500,000. On November 11, 2024, the Company consummated the third tranche of its debt financing under the terms of the Securities Purchase Agreement (“SPA”) referenced in the current report on Form 6-K filed with the United States Securities and Exchange Commission (the “SEC”) on August 16, 2024. The Form 6-K filed with the SEC on August 16, 2024 is incorporated by reference herein. Pursuant to the terms of the SPA, the Company may elect at the second additional mandatory closing to sell and the institutional investor party to the SPA shall be required to purchases, subject to certain conditions, an additional note (“Second Additional Mandatory Note”) in the principal amount of $ 1,500,000, after the effective date of the Registration Statement (as defined in the SPA). The sale of the Second Additional Mandatory Note resulted in $ 1,395,000of gross proceeds to the company before fees and expenses. The Notes bears an interest rate of 14.75% per annum and may be adjustable from time to time pursuant to its terms, with maturity at the 4.5years anniversary 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