NewGenIvf Group Terminates Proposed Reverse Merger Deal With European Wellness

MT Newswires Live03-31

NewGenIvf Group (NIVF) terminated a binding term sheet with European Wellness Investment Holdings for a reverse merger.

European Wellness didn't meet the deadline to provide draft audited financial statements for 2023 and 2024, NewGenIvf said Monday in a statement.

The companies agreed to the binding term sheet on Dec. 11 with European Wellness planning to acquire almost 62% of NewGen. The $452 million transaction valued NewGenIvf stock at $3.20 a share.

European Wellness didn't immediately respond to a request for comment from MT Newswires.

Shares of NewGenIvf fell 34% in recent Monday trading.

Price: 0.61, Change: -0.33, Percent Change: -33.80

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