Novo Integrated Sciences (NVOS) has released an update.
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Novo Integrated Sciences, Inc. has issued a $70 million promissory note to SCP Tourbillion Monaco, maturing in 2038 with a 1.52% annual yield. The company faced a potential default under this agreement when it failed to meet Nasdaq’s minimum bid price requirement but negotiated a waiver with the note holder, ensuring that this specific non-compliance does not trigger a default. This waiver does not affect other terms of the agreement or any future compliance issues. The waiver and its implications were publicly disclosed by the company in a press release.
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