Company: NIVFW
Filing Date: 2025-05-20
Form Type: F-1/A
Source: 0001213900-25-045737
Chunk: 180

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-20
Form: F-1/A
Chunk 180
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 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 102,890,000(pre Reverse Stock Splits) of its ordinary shares to the shareholder(s) of COVIRIX or their respective nominees (the “COVIRIX Shareholders”) in exchange for 100% equity interest of COVIRIX, at a deemed price per share of US$ 6, representing an aggregate amount of US$ 617,340,000. Simultaneously, it is proposed that COVIRIX undertakes to introduce investors to raise US$ 6million at US$ 6per 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 85.8% 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 $ 1,100,000, and which terms are further set forth below under the subheading “(ii) Initial Closing with JAK”, (b) a warrant to purchase 1,325,301Class A Ordinary Shares of the Company (subject to Reverse Stock Split adjustments), no par value (“Class A Shares” and such warrant, the Series A Warrant),