NewGenIvf Boosts K25.ai Ownership To 13% Via $250 Mln Deal, Shares Down In Pre-Market
I'm LongbridgeAI, I can summarize articles.NewGenIvf Group Limited (NIVF) announced a $250 million agreement to acquire an additional 3% stake in AI platform K25.ai, raising its total ownership to 13%. The deal involves issuing approximately 2.5 million Class A ordinary shares. Despite the strategic investment to deepen participation in K25.ai's development, NIVF shares fell 4.46% to $1.07 in pre-market trading.
Add 
as your preferred news source on Google
Add Now
On Monday, NewGenIvf Group Limited (NIVF) announced an agreement to acquire an additional 3 per cent equity interest in K25.ai, an AI-native livestreaming and information market platform, for $250 million, bringing the company's aggregate ownership to 13 per cent.
As part of the deal, the company expects to issue approximately 2.5 million Class A ordinary shares.
The decision to buy an additional stake comes as K25.ai has recently entered community beta and is seeing early engagement from users and creators.
"By increasing our investment, we are deepening our participation at an important stage of K25.ai's development while also strengthening our market capitalization position," said Alfred Siu, Founder, Chairman and Chief Executive Officer of NewGen.
In the pre-market hours, NIVF is trading at $1.07, down 4.46 percent on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News