INVO Fertility Inc (NASDAQ:IVF) shares are surging Friday afternoon following a pair of key operational and regulatory milestones disclosed in a new SEC Form 8-K filing. Here’s what investors need to know.
- INVO Fertility shares are climbing with conviction. What’s behind IVF gains?
INVO Fertility Secures Full Ownership of Alabama JV Clinic
The healthcare fertility company revealed that its wholly owned subsidiary, INVO Centers LLC, has consummated the acquisition of 100% of the membership interests of HRCFG LLC. HRCFG previously managed and operated the “Innovative Fertility Specialists” joint venture clinic in Birmingham, Alabama.
Under the Membership Interest Transfer Agreement, INVO acquired the interests from sellers Karen Hammond, Lisa Ray and Nicholas Cataldo for a combined purchase price of $175,001.
This transaction includes $1.00 paid in cash at closing and $175,000 in additional consideration to be covered through pro-rata monthly installments and future free cash flow. Moving forward, INVO will incorporate the clinic’s accounts into its consolidated financial statements on a prospective basis.
Nasdaq Resolves Compliance Matter and Closes Filing Review
Compounding the positive market sentiment, INVO announced that Nasdaq has officially closed its non-compliance matter regarding delayed filings. Following the submission of its Form 10-Q on June 22, the Nasdaq staff confirmed on June 23 that the company fully complies with the Timely Filing Rule.
IVF Stock Price Movement on Friday
IVF Stock Price Activity: INVO Fertility shares were up 71.77% at $2.12 at the time of publication on Friday, according to Benzinga Pro data.
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