Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 50

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 4
Chunk 50
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 Amendment, subject to receipt of at least $140,000 as part of the Loan from NewGenIvf, 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 $5,000,000 in 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.

  Business Overview  

With a focus on providing
fertility treatments to fulfil the dreams of building families, NewGenIvf mainly offers two services, namely: (i) in vitro fertilization
(“ IVF”) treatment service, comprising traditional IVF and egg donation; and (ii) surrogacy and ancillary caring services.
Currently, we have three clinics: one clinic in Thailand, one clinic in Cambodia, and one clinic in Kyrgyzstan.

  IVF treatment service: For the years ended December 31, 2024 and 2023, we generated approximately 100% and 78.3% respectively of our revenue from IVF treatments services. We primarily provide o...  
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  Surrogacy and ancillary caring services: We also generate revenue from surrogacy services and related ancillary caring services in Kyrgyzstan. For the years ended December 31, 2024