NewRegen (OTC:NREG) Stock Gains 30% in a Week: What’s the Buzz?
Investment success depends on being aware of the latest developments in the market, and most successful investors keep an eye on the latest happenings. One of the companies that had come into the news cycle in a big way on Monday was NewRegen (OTC:NREG), and it could be a good move to consider taking a look into the development. It emerged yesterday that the company had been successful in the signing of definitive agreements to combine with the leading entertainment software provider, PickleJar Holdings Inc.
The company revealed that the transaction was conducted entirely in stock. The deal had been approved unanimously by the Board of Directors of PickleJar on November 25, 2023. The approval led to a major change in control inside the company. The combined company would continue to carry on the business conducted by PickleJar as a promotions and payments ecosystem, which described itself as ‘Artist First’. The ecosystem helps in bringing together all aspects of the fan experience for global brands, mid-sized venues, and emerging artists.
Following the completion of the transaction, NewRegen revealed that it would spin off its regenerative medicine business and turn it into a private entity named NewRegen Operations. The Chief Executive Officer of PickleJar, Jeff James, spoke about the company as well. He called the company a ‘big idea’ and noted that the deal was going to speed up the existing strategies that were already in place.
He went on to note that although mergers were complex affairs, the company’s management wanted to get it right for its shareholders. As per the terms of the agreement, shareholders in PickleJar would be awarded 90.5% of the Preferred A shares in NewRegen. The combined entity would be called PickleJar Entertainment, and it would trade on the OTC markets under the ticker symbol NREG. However, it would change once a new name and ticker are approved by FINRA. NewRegen’s Chief Executive Officer, Everett Dickson, stated that PickleJar was a transformative force in the entertainment industry and would help in providing for a new age of growth. Dickson went on to note that the deal would help unlock value for the long term.
On July 18, NewRegen had been in focus after the comprehensive wellness services company announced that Physicians Weight Loss Centers (PWLC) had entered its NewRegen Now Partner Program. At the time, it was noted that PWLC operated a national franchise of physician-approved weight loss programs, which boasted as many as 16 locations spread across five states. By way of the partnership, NewRegen would provide telemedicine services to all the online customers of PWLC.
At the time, Everett Dickson noted that the partnership would help in providing weight loss solutions with smooth service for the constantly rising demand online. The announcement came about from NewRegen after it had struck up a number of partner collaborations in the recent past. It was part of the company’s strategic move to expand into some of the more important demographics in the United States.