NVOS - Why Novo Integrated Sciences Stock Is Up | Benzinga
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) shares are trading higher Friday after the company announced its board is conducting a review to determine whether it is appropriate to increase the company's stock repurchase program.
The Details:
Novo announced the board of directors is conducting a strategic review to determine whether it is appropriate to increase the maximum amount that can be repurchased pursuant to the stock repurchase program based on the amount, if any, of excess funds that may be generated from the recently disclosed program to monetize a Standby Letter of Credit intended to complete the Ophir Collection acquisition.
Pending receipt of funds from the unsecured 15-year $70 million promissory note with RC Consulting Consortium Group, LLC in favor of SCP Tourbillion Monaco for a lump sum debt funding of $57 million less fees and expenses, the amount and timing of any shares repurchased under the Stock ...