NewGen Enhances Reverse Merger Strategy with Legal Team Engagement

NewGen's Strategic Move Towards Merger Completion

NewGenIvf Group Limited (NASDAQ: NIVF) has made important strides in its reverse merger plans with European Wellness Investment Holdings Limited (EWIHL). Both companies have recently engaged legal experts to draft the Share Purchase Agreement (SPA), showcasing their commitment to the transaction. This decision marks a pivotal moment in the merger process, as it indicates readiness to finalize the agreement and prepare for the regulatory requirements of NASDAQ.

Timeline Update for the Merger Agreement

In a mutual decision, the signing of the SPA has been postponed from January 27 to February 28, providing ample time for thorough due diligence. This extension is crucial, allowing both parties to evaluate all aspects of the agreement closely and ensuring compliance with necessary regulations. The company views this careful approach as vital to securing a successful merger and enhancing their future business prospects.

Recent Developments Highlighting Commitment

The move to engage seasoned legal counsel follows a significant advancement in NewGen's partnership with EWIHL, which began with a binding term sheet. Mr. Siu Wing Fung Alfred, the Founder and CEO of NewGen, expressed enthusiasm regarding the merger process, stating, “We are excited about advancing this merger process as we continue building momentum toward completion. Engaging experienced legal counsel reflects our commitment to ensuring a seamless transaction process.” This statement underlines the company's dedication to navigating the merger effectively.

Historical Context of the Merger

This reverse merger is valued at an impressive US$452 million, with shares priced at US$3.20 each. NewGen believes that achieving this milestone will significantly elevate its market visibility. Furthermore, it is crucial for supporting its listing on the Nasdaq Global Market. The leadership of Prof. Dato’ Sri Dr. Mike K.S. Chan, known for his extensive experience in regenerative medicine, is expected to enhance the merger's value proposition. Dr. Chan’s expertise is anticipated to play a significant role in advancing innovative healthcare solutions and expanding both companies' market reach.

NewGen's Commitment To Fertility Services

NewGen is recognized for its comprehensive fertility services in Asia, striving to make fertility treatments accessible to a wider audience. Their commitment to helping individuals and couples facing fertility challenges has made them a notable player in the market. The company operates clinics in multiple regions and offers a wide range of services, including infertility assessments and assisted reproductive technologies. With a dedicated management team boasting extensive experience in the fertility industry, NewGen is positioned to continue leading in fertility solutions.

About EWIHL and the Broader Market

European Wellness Biomedical Group stands out in the sector with its acclaimed advancements in therapies and regenerative medicine. Comprising several operating entities, EW Group controls various flagship brands and maintains an impressive portfolio of innovative products, which ultimately broadens their market's appeal. Their collaboration with NewGen promises added value through their combined expertise and resources, as both companies aim to enhance service delivery in the healthcare landscape.

Frequently Asked Questions

What is the nature of the merger between NewGen and EWIHL?

The merger is a reverse merger, whereby NewGen will acquire EWIHL to streamline operations and enhance market presence.

Why has the signing date for the Share Purchase Agreement been extended?

The extension to February 28 allows both parties to conduct due diligence and prepare for compliance with NASDAQ requirements.

How does the merger benefit NewGen's future?

The merger will strengthen NewGen's market visibility and support their ongoing listing on the Nasdaq Global Market, creating growth opportunities.

Who is leading NewGen through this merger?

Mr. Siu Wing Fung Alfred serves as the Founder and CEO, leading the company's strategic initiatives through the merger.

What services does NewGen provide?

NewGen offers a comprehensive range of fertility services, including infertility evaluations and assisted reproductive technologies, in multiple regions.

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