Overview
- NewGenIVF disclosed a binding term sheet with White Lion Capital that would deliver 600,000 SOL in a non-cash, equity-for-token structure.
- The arrangement allows NewGen to receive tokens by selling common shares rather than raising cash, with an initial option window of 24 months.
- At the time of the announcement, the 600,000 SOL were reported as worth roughly $110 million, subject to market price fluctuations.
- NewGen said it currently holds 13,000 SOL (about $2.5 million) and previously outlined a plan to allocate $30 million to Solana as part of its treasury strategy.
- Blockonomi reported the transaction will proceed following final agreements and required regulatory filings, and coverage cited CoinGecko data showing large public Solana treasuries across multiple firms.