Summary by Futu AI
Novo Integrated Sciences, Inc. reported on March 19, 2024, that it had entered into a series of agreements and waivers related to a previously issued $70 million unsecured promissory note. The note, with a 15-year term and a maturity date of April 26, 2038, was part of a securities purchase agreement with RC Consulting Group LLC, favoring SCP Tourbillion Monaco. The company faced an Event of Default under the agreement due to non-compliance with Nasdaq's minimum bid price requirements. However, an initial waiver was granted, exempting the company from non-compliance related to the minimum bid price requirement. Subsequently, RC Consulting Group LLC assigned its rights and interest in the agreement and note to RC Consulting Consortium Group LLC. On March 19, 2024, a further...Show More