Brief: Invo Bioscience And Naya Biosciences Announce Definitive Merger Agreement

INVO Fertility

23/10/2023 13:52

Oct 23 (Reuters) - INVO Bioscience Inc  INVO.O :
    * INVO BIOSCIENCE AND NAYA BIOSCIENCES ANNOUNCE DEFINITIVE
MERGER
AGREEMENT TO ESTABLISH EXPANDED PUBLICLY TRADED LIFE SCIENCE
COMPANY
    * INVO BIOSCIENCE INC - UNDER TERMS OF AGREEMENT, NAYA
BIOSCIENCES' SHAREHOLDERS WILL RECEIVE 7.3333 SHARES OF INVO FOR
EACH SHARE OF NAYA BIOSCIENCES AT CLOSING
    * INVO BIOSCIENCE INC - COMBINED COMPANY IS EXPECTED TO
OPERATE
UNDER NAME "NAYA BIOSCIENCES"
    * INVO BIOSCIENCE INC - COMBINED COMPANY IS EXPECTED TO
OPERATE
UNDER NAME "NAYA BIOSCIENCES"
    * INVO BIOSCIENCE INC - DANIEL TEPER, CURRENTLY CHAIRMAN &
CEO OF
NAYA BIOSCIENCES, WILL BE NAMED CHAIRMAN & CEO OF COMBINED
COMPANY
    * INVO BIOSCIENCE INC - MERGER TARGET VALUATION IS $12.4
MILLION
FOR INVO AND ABOUT $91 MILLION FOR NAYA, BASED ON A TARGET STOCK
PRICE OF $5.00 PER SHARE
    * INVO BIOSCIENCE INC - MERGER HAS BEEN UNANIMOUSLY APPROVED
BY
BOARD OF DIRECTORS OF EACH COMPANY
    * INVO BIOSCIENCE INC - BOARD OF DIRECTORS OF COMBINED
COMPANY
WILL HAVE SIX (6) DIRECTORS NOMINATED BY NAYA AND ONE (1)
DIRECTOR NOMINATED BY INVO
    * INVO BIOSCIENCE INC -  MERGER IS EXPECTED TO CLOSE IN Q4
OF 2023

Source text for Eikon:  ID:nPnd1qXZa 
Further company coverage:  INVO.O 

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