NewGenIvf Group (NIVF) shares soared more than 71% in Monday's premarket activity after the company said it has signed a binding term sheet with White Lion Capital for a $100 million equity line of credit that is expandable to $500 million.
Under the terms of the agreement, the company said it will have the option to sell to White Lion up to $100 million in shares of common stock over an initial 36-month period.
NewGenIvf said the $100 million limit could rise to $300 million for mergers and acquisitions activity, and further to $500 million after $250 million has been drawn.
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