News
BELLEVUE, Wash., June 03, 2024--(BUSINESS WIRE)--Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the "Company" or "Novo") announced today the Company and RC Consulting Consortium Group LLC, in favor of SCP Tourbillion Monaco ("RC"), have amended the prepayment terms and conditions of the previously disclosed $70,000,000 promissory note, dated April 26, 2023 (the "RC Note") to provide that, at any time after 12 months and no later than 60 months from the commencement of the term of the RC Note and prior to an event of default, if the Company’s listed common stock closes over $15 per share for a period of five consecutive trading days, the Company may prepay up to 50% of the outstanding RC Note in restricted shares, at a value equal to 15% greater than the average closing price of the Company’
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Chhavin OP : I’m not sure if I’m not reading it right but according to the news for the $70,000,000 (RC investor) payments will be made once stock is over $15. This is great news?