Summary by Futu AI
On June 3, 2024, Novo Integrated Sciences, Inc. (Novo), a healthcare company listed on the Nasdaq Capital Market under the symbol NVOS, announced an amendment to a significant financial agreement. The amendment pertains to a $70 million unsecured promissory note, originally issued on April 26, 2023, to RC Consulting Consortium Group LLC in favor of SCP Tourbillion Monaco. The note, which matures on April 26, 2038, was amended to allow Novo, under certain conditions, to prepay up to 50% of the outstanding note in restricted shares of the company's common stock. This prepayment option is available if Novo's stock closes over $15 per share for five consecutive trading days, anytime between 12 and 60 months from the start of the note's term, and before any event of default...Show More