{"id":752034,"date":"2023-04-27T08:58:07","date_gmt":"2023-04-27T12:58:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/novo-integrated-sciences-signs-agreements-for-an-unsecured-non-dilutive-debt-instrument-with-a-principal-sum-of-70000000\/"},"modified":"2023-04-27T08:58:07","modified_gmt":"2023-04-27T12:58:07","slug":"novo-integrated-sciences-signs-agreements-for-an-unsecured-non-dilutive-debt-instrument-with-a-principal-sum-of-70000000","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/novo-integrated-sciences-signs-agreements-for-an-unsecured-non-dilutive-debt-instrument-with-a-principal-sum-of-70000000\/","title":{"rendered":"Novo Integrated Sciences Signs Agreements for an Unsecured, Non-dilutive Debt Instrument with a Principal Sum of $70,000,000"},"content":{"rendered":"

<\/p>\n

Novo Integrated Sciences Signs Agreements for an Unsecured, Non-dilutive Debt Instrument with a Principal Sum of $70,000,000<\/b><\/p>\n

The Company to Receive a Lump Sum of $57,000,000<\/i><\/p>\n

Note has a non-compounding yield of 1.52% (zero coupon) per annum<\/i><\/p>\n

BELLEVUE, Wash.–(BUSINESS WIRE<\/a>)–
\nNovo Integrated Sciences, Inc. (NASDAQ: NVOS) (the \u201cCompany\u201d or \u201cNovo\u201d), today announced the issuance of an unsecured 15-year $70,000,000 promissory note with RC Consulting LLC in favor of SCP Tourbillion Monaco (the \u201cBuyer\u201d), for a lump sum debt funding of $57,000,000. The note provides for a yield (non-compounding) of 1.52% (zero coupon) per annum and a maturity date 15 years from the date of issuance. The Note is unsecured and there is no provision for the conversion of debt, issuance of any class of shares, or the grant of any warrants by the Company to the Buyer.<\/p>\n

\nRobert Mattacchione, Novo\u2019s CEO and Chairman of the Board, stated, \u201cIn today\u2019s environment of tight capital markets and expensive capital raises, this $57,000,000 cash infusion will provide the Company with the foundational capital and repayment terms required to support and accelerate the further implementation and growth of Novo\u2019s three-pillar business model. The non-dilutive and progressively structured facility will also allow the Company the time required to properly commercialize many of its unique assets. As we continue on our path to profitability, structured debt of this nature eases the burden of capital pursuit and allows the focus of market growth to be primary in management\u2019s objectives. Patient, non-dilutive capital greatly increases the Company\u2019s potential for true market difference.\u201d<\/p>\n

About Novo Integrated Sciences, Inc.<\/span><\/b><\/p>\n

\nNovo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.<\/p>\n

\nWe believe that \u201cdecentralizing\u201d healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient\/practitioner relationship to the patient\u2019s home and away from on-site visits to primary medical centers with mass-services. This acceleration of \u201cease-of-access\u201d in the patient\/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.<\/p>\n

\nThe Company\u2019s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:<\/p>\n