By Colin Kellaher
Fertility company INVO Bioscience has agreed to agreed to an all-stock reverse merger with oncology and regenerative-medicine company NAYA Biosciences.
INVO, based in Sarasota, Fla., said its shareholders would own about 12% of the combined company, which will operate under the NAYA Biosciences name, while NAYA investors would own about 88%.
The deal is slated to close by the end of the year.
A reverse merger allows a private company to go public by merging with a listed company at a lower cost than is involved in a traditional initial public offering.
Trading in shares of INVO, which closed Friday at 54 cents, was halted premarket on Monday.
Write to Colin Kellaher at [email protected]
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