Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

INVO Bioscience to Acquire NAYA Biosciences in All-Stock Transaction.

Document Cited in Related
Vincent

MANews-(C)2009-2023

Florida-based healthcare services fertility company INVO Bioscience, Inc. (NASDAQ: INVO) has agreed to acquire Florida-based biology, cell and gene therapy provider NAYA Biosciences Inc. in an all-stock transaction, the company said.

Under the terms of the agreement, NAYA Biosciences' shareholders will receive 7.3333 shares of INVO for each share of NAYA Biosciences at closing, for a total of approximately 18,150,000 shares of INVO.

The Merger is estimated USD5 m or more in interim private financing in INVO at a premium of INVO's market price at time of financing (Interim PIPE), and a private offering by the combined company at a target price of USD5.00. The transaction values INVO at USD 12,373,780 and NAYA at USD 90,750,000.

Subject to the Interim PIPE, post-transaction and prior to the private offering, INVO and NAYA shareholders will own approximately 12% and 88%, respectively, of the combined company.

Following the merger, NAYA Biosciences plans to operate as a NASDAQ-listed group of agile, disruptive, high-growth companies dedicated to increasing patient access to life-transforming treatments in oncology, fertility, and regenerative medicine.

NAYA's capabilities in biology, cell and gene therapy, and artificial intelligence, combined with INVO's network of fertility clinics and INVOcell...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT