Invo Fertility Inc. Announces Conversion of NTI Preferred Shares into Common Stock as Part of New Agreement

Reuters
31 May
Invo Fertility Inc. Announces Conversion of NTI Preferred Shares into Common Stock as Part of New Agreement

Invo Fertility Inc. has announced a strategic financial move involving its holdings in NTI. The company entered into an agreement to exchange 801,196 shares of NTI Class A Common Stock, representing 19.9% of NTI's outstanding common shares, for 6,300 shares of NTI Series A Preferred Stock. These preferred shares have a stated value of $1,000 each and are convertible into NTI Class A Common Stock under specific conditions, such as NTI's listing on a major stock exchange or by the seventh anniversary of issuance. Additionally, NTI issued a secured convertible promissory note amounting to $4,803,175 to Invo Fertility Inc., with an interest rate of 7% per annum and a maturity date set for November 28, 2026. This financial maneuver is expected to enhance Invo's strategic positioning within NTI.

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