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      What Is Boosting INVO Stock Right Now

      By Fahim Awan

      Published on

      October 23, 2023

      4:42 PM UTC

      What Is Boosting INVO Stock Right Now

      Today, the stock market witnesses the astonishing surge of INVO Bioscience, Inc. (NASDAQ: INVO) stock, soaring by a remarkable 346.29% to reach $2.41 per share. This meteoric rise in recent trading is fueled by the recent merger agreement announcement, sending INVO’s trading volume skyrocketing to 66 million shares compared to the daily average of nearly 230,000.

      INVO Bioscience (INVO) has formally entered a definitive merger agreement with NAYA Biosciences Inc., a pivotal step in the world of biotechnology. This merger entails an all-stock transaction, with NAYA Biosciences’ shareholders set to receive 7.3333 INVO shares for each NAYA share upon the merger’s completion.

      This equates to approximately 18,150,000 INVO shares distributed among NAYA’s stakeholders. After the merger, the new entity will undergo a name change to “NAYA Bioinnovations.” Dr. Daniel Teper, the current head of NAYA Bioinnovations, will assume the dual position of Chairman and CEO in the unified entity.

      Post-merger, NAYA Bioinnovations is primed to function as a NASDAQ-featured conglomerate specializing in groundbreaking, high-expansion initiatives targeted at improving patient entry to revolutionary healthcare answers in cancer care, fertility, and regenerative medicine.

      NAYA’s unique capabilities in biology, cell and gene therapy, and artificial intelligence, combined with INVO’s fertility clinic network (INVO Centers) and INVOcell medical device for intravaginal culture (IVC), create a powerful platform for the development and commercialization of groundbreaking treatments.

      The merger’s primary objective is to strengthen INVO’s fertility operations by infusing capital to expand its clinic network across the United States and advance NAYA’s clinical-stage oncology therapeutics.

      Approval from INVO’s, Cytovia’s, and NAYA’s stockholders is a prerequisite for the merger. INVO will acquire 100% of NAYA’s outstanding equity interests through a reverse triangular merger, resulting in a change of control as INVO issues over 80% of its common stock to NAYA.

      Upon merger completion, NAYA’s equity holders are anticipated to own around 88% of the combined company’s common stock, with INVO’s equity holders holding about 12%. Unanimously approved by both companies’ boards of directors, the merger is expected to conclude in the fourth quarter of 2023. The governing board of the merged entity will consist of six directors nominated by NAYA and one by INVO.

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