NewGenIvf Stock Jumps 7% On Strategic Funding News

(RTTNews) - NewGenIvf Group Limited (NIVF) is trading at $0.63, up 7.89 percent or $0.046 during Thursday's trading, after securing $5.2 million in strategic funding with the potential to raise up to $30.8 million.

The stock opened at $0.99 and reached an intraday high of $1.48 before pulling back on the Nasdaq. It has traded between $0.109 and $3.28 over the past year, with today's volume surging to 104.51 million shares, well above the average of 6.21 million.

The company plans to use the funds to establish a fertility clinic in Dubai. The financing includes a $2 million senior convertible note with a 14.75 percent interest rate and a new purchase agreement allowing for up to $3.2 million in additional convertible notes, with the potential for an extra $25.6 million.