INVO Fertility, Inc. (IVF): debt financing — INVO signs binding agreements to acquire Wisconsin Fertility Institute for $10M

INVO Fertility, Inc.

Purchase price $10M payable over 3 years: $2.5M cash at close, then $2.5M annually in cash or stock at fixed prices.
Target generated ~$5.5M revenue and ~$1.9M net income (trailing 12 months ending Sep 30, 2022).
Closing expected Q2 2023; clinic will become wholly owned subsidiary.
Dr. Elizabeth Pritts remains lead physician for minimum 3 years post-close.
Also issued $135K convertible notes ($0.60 conversion) and 5-year warrants ($1.00 exercise).

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

INVO Fertility, Inc. incurred convertible notes of $135,000 at ten percent (10%) per annum maturing December 31, 2023.

Instrument: convertible notes
Principal: $135,000
Rate: ten percent (10%) per annum
Maturity: December 31, 2023
Event: incurrence

Exact text from the filing

the Company entered into definitive securities purchase agreements (the “Purchase Agreements”) with accredited investors for their purchase of (i) unsecured convertible notes of the Company in the aggregate original principal amount of $135,000 (the “Notes”) with a fixed conversion price of $0.60

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INVO Fertility, Inc. entered into Purchase Agreements with accredited investors valued at $135,000 (effective 2023-03-17).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: $135,000
Effective: 2023-03-17

Exact text from the filing

On March 17, 2023, the Company entered into definitive securities purchase agreements (the “Purchase Agreements”) with accredited investors for their purchase of (i) unsecured convertible notes of the Company in the aggregate original principal amount of $135,000 (the “Notes”)

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90 debt financings filed in the last 30 days. Browse all debt financings →

INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-008723

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