NewGenIvf Group (NASDAQ:NIVF) ("NewGen" or the "Company"), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today 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 Proposed Transaction
Pursuant to the Term Sheet, it is proposed that NewGen issue 102,890,000 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$6 million at US$6 per 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. The Company expects to announce additional details regarding the Proposed Transaction when a definitive agreement is executed. The completion of the Proposed Transaction is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement, obtaining adequate financing, satisfaction of the conditions negotiated therein, and approval of the Proposed Transaction by the board and stockholders, as and when applicable. There can be no assurance that a definitive agreement will be entered into or that the Proposed Transaction will be consummated on the terms or timeframe currently contemplated, or at all. Mr. Richard Li, who serves as Executive Director and Head of Corporate Development of COVIRIX and as an Independent Director of NewGen, will abstain from voting in any and all future decisions related to the Proposed Transaction.
幫助夫妻和個人獲得生育治療的亞洲綜合生育服務提供商NewgenIVF集團(納斯達克股票代碼:NIVF)(“NewGen” 或 “公司”)今天宣佈就與製藥公司COVIRIX Medical Pty Ltd(“COVIRIX”)的反向合併(“擬議交易”)執行一份不具約束力的條款表(“條款表”)。
擬議的交易
根據條款表,建議NewGen向COVIRIX的股東或其各自的提名人(“COVIRIX股東”)發行102,890,000股普通股,以換取COVIRIX的100%股權,認定每股價格爲6美元,合計金額爲617,340,000美元。同時,有人提議COVIRIX承諾引入投資者,以每股6美元的價格爲NIVF籌集600萬美元,其形式是NewGen和COVIRIX雙方都能接受的。
在股東批准擬議交易後,預計COVIRIX股東將持有NewGen約85.8%的股權。該公司預計將在執行最終協議時公佈有關擬議交易的更多細節。除其他事項外,擬議交易的完成取決於盡職調查的完成、最終協議的談判、充足的融資、對其中談判的條件的滿足,以及擬議交易獲得董事會和股東的批准(視情況而定)。無法保證將達成最終協議,也無法保證擬議交易將按照目前設想的條款或時間框架完成,或者根本無法保證。擔任COVIRIX執行董事兼企業發展主管以及NewGen獨立董事的Richard Li先生將對未來與擬議交易相關的任何決定投棄權票。