NewGenIvf Secures $100 Million Equity Line of Credit from White Lion Capital, with Potential Expansion to $500 Million “`
BANGKOK, Nov. 18, 2024 — NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”) announced a binding term sheet with White Lion Capital, LLC (“White Lion”), a California-based institutional investor specializing in high-growth, early-stage public companies. This sets the terms for a $100 million equity line of credit, expandable to $500 million.
Under the term sheet, NewGen can choose to sell up to $100 million in common stock to White Lion over 36 months. This can increase to $300 million following significant mergers and acquisitions (M&A) and further to $500 million after drawing $250 million. The transaction requires definitive agreements and is contingent on conditions, including the immediate filing of a registration statement after definitive agreements are signed.
Mr. Siu Wing Fung Alfred, NewGen’s Founder, Chairman, and CEO, stated, “This substantial agreement marks a key achievement in NewGen’s growth. The $100 million initial commitment, expandable to $500 million, provides significant financial flexibility and reflects our new institutional partner’s confidence in our business model and future growth.”
“Strategically, this financing aligns perfectly with our Asian expansion plans. The scalability, particularly the potential increase to $300 million with substantial M&A, allows decisive action on emerging opportunities. The ability to draw capital as needed maintains a strong balance sheet while pursuing strategic acquisitions. The 36-month term, extendable to 65 months, secures a long-term capital partner for our growth. We welcome White Lion and look forward to using this capital to drive sustainable growth and shareholder value.”
This press release is not an offer to sell or a solicitation of an offer to buy securities. No sale will occur in jurisdictions where it’s unlawful before registration or qualification under applicable securities laws.
About NewGen
NewGen is a comprehensive Asian fertility services provider, assisting couples and individuals access fertility treatments. Dedicated to helping build families, NewGen improves access to infertility treatment and offers comprehensive services, including infertility and assisted reproductive technology treatments, egg and sperm donation, and surrogacy (where legally permissible). NewGen’s clinics are in Thailand, Cambodia, and Kyrgyzstan. For more information, visit . Information on NewGen’s website is not included in this press release.
Forward-Looking Statements
This press release includes forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements, often using words like “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” and similar expressions, describe future commercial operations, business strategy, financial condition, and planned acquisitions. Forward-looking statements are subject to risks and uncertainties. Factors that could cause actual results to differ materially include: inability to execute business plans, inability to identify and realize opportunities, failure to meet financial projections, changes in the regulatory or competitive environment, failure to agree on definitive documentation with White Lion Capital for the equity line of credit, or failure to satisfy conditions in definitive documents to exercise the option to sell shares to White Lion. See the Company’s annual report on Form 20-F and other SEC filings for more details. Information is current as of the press release date; no obligation exists to update forward-looking statements.
Investor Relations Contact
ICR, LLC
Robin Yang
Phone: +1 (212) 537-4406
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