M&A
confidence high
sentiment neutral
materiality 0.85
NAYA Biosciences completes merger with Legacy NAYA; stock and debt exchange detailed
INVO Fertility, Inc.
- Each Legacy NAYA share exchanged for 118,148 NAYA common shares and 30,375 Series C-1 Preferred shares (convertible only after stockholder approval).
- $8.58M Legacy NAYA debt converted into 669,508 common shares and 8,576 Series C-2 Preferred; remaining $3.93M exchanged for new 7% Senior Secured Convertible Debenture due Dec 2025.
- Dr. Daniel Teper appointed President; CEO Steven Shum and CFO Andrea Goren remain; Teper and Lyn Falconio join board of directors.
- Legacy NAYA audited results: no revenue for 2022 or 2023; net loss $3.28M in 2023, $9.5M in 2022; going concern noted.
- Stockholder meeting required to ratify merger, increase authorized shares to 100M, and approve reverse stock split (1:2 to 1:20).