Core Viewpoint - NewGenIvf Group Limited is progressing with a proposed reverse merger with European Wellness Investment Holdings Limited, while also completing the acquisition of MicroSort Reproductive Technology, indicating a strategic focus on growth and expansion in the fertility services sector in Asia [1][2][3]. Group 1: Reverse Merger with EWIHL - The proposed reverse merger with EWIHL would result in EWIHL holding approximately 61.6% of NewGen's equity upon completion [2]. - Completion of the merger is contingent upon due diligence, delivery of draft audited financials for 2023 and 2024 by March 31, 2025, and negotiation of a definitive agreement [2]. - As of the press release date, EWIHL has not provided the required draft financials, and key due diligence documents are still pending, which may delay the transaction [2]. Group 2: Acquisition of MicroSort Reproductive Technology - NewGen completed its acquisition of MicroSort Reproductive Technology on February 28, 2025, following a definitive agreement announced on January 21, 2025 [3]. - The company aims to continue evaluating strategic acquisition opportunities that align with its long-term growth strategy [3]. Group 3: Financial Performance and Position - The company has improved its financial standing from a deficit of $7 million to a surplus of over $10 million within five months, achieving a net asset increase of $17 million [4]. - As of February 28, the net asset value per share is reported at $2.16, with only $50,000 in debt on the balance sheet, positioning the company strongly for future strategic opportunities [4]. Group 4: Company Overview - NewGen is a comprehensive fertility services provider in Asia, offering a range of treatments including assisted reproductive technology, egg and sperm donation, and surrogacy [5]. - The company operates clinics in Thailand, Cambodia, and Kyrgyzstan, focusing on increasing access to infertility treatments for couples and individuals [5].
NewGenIvf Provides Update on Proposed Reverse Merger with European Wellness Holdings and Completion of Strategic Acquisition of MicroSort Reproductive Technology