Reverse Merger

NewGen (NASDAQ: NIVF) has signed a binding term sheet for a reverse merger with European Wellness Investment Holdings (EWIHL) in a US$452 million transaction at US$3.20 per share. The deal involves NewGen issuing 141,250,000 ordinary shares in exchange for 100% equity of EWIHL, with EWIHL shareholders expected to hold 61.6% equity post-transaction.

The merger aims to create synergistic value through EWIHL's healthcare products complementing NewGen's fertility treatments and leveraging their distribution network. The increased market capitalization is expected to support NewGen's continued Nasdaq Global Market listing, addressing previous delisting concerns. The company has secured an equity line of credit to support the transaction.