NewGen Secures Strategic Funding to Drive International Expansion and Corporate Growth

NewGen Secures Strategic Funding to Drive International Expansion and Corporate Growth

Benzinga
April 3, 2025

BANGKOK, April 03, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ:NIVF) ("NewGen" or the "Company"), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today announced that it has secured $5.2 million in strategic funding through two separate arrangements with an investor ("the investor"), with the potential to raise a total of up to $30.8 million through the arrangements. These funding arrangements will provide the necessary capital for NewGen to execute on key growth initiatives, including the establishment of a state-of-the-art fertility clinic in Dubai, United Arab Emirates.

On April 2, 2025, the Company consummated the fourth tranche of its debt financing under the terms of its existing Securities Purchase Agreement with the investor, initially announced in a 6-K filed with the United States Securities and Exchange Commission (the "SEC") on August 16, 2024. At the closing of the fourth tranche, the Company sold to the investor a senior convertible note in the principal amount of $2,000,000. The Note bears an interest rate of 14.75% per annum and may be adjustable from time to time pursuant to its terms.

On April 1, 2025, the Company entered into a new Securities Purchase Agreement with the investor pursuant to which the Company agreed to sell to the investor a senior convertible note in the aggregate original principal amount not exceeding $3,200,000. The Company may require the investor to participate in the sale of one or more additional convertible notes, which aggregate original principal amount for all additional convertible notes shall not exceed $25,600,000.

More details on these arrangements can be found in NewGen's associated 6-K filing made with the SEC on April 3, 2025.

The funding from these arrangements will be used to ...

https://www.benzinga.com/pressreleases/25/04/g44626169/newgen-secures-strategic-funding-to-drive-international-expansion-and-corporate-growth

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