NewGen, a Nasdaq-listed tech-forward multi-jurisdictional company, has entered into a purchase deal with White Lion Capital to acquire 600,000 Solana tokens.
NewGenIvf Group Limited announced the development on October 31, 2025, noting the company had signed a binding term sheet with White Lion.
The firms’ digital assets purchase agreement outlines a commitment that will allow NewGen to acquire 600,000 Solana (SOL) tokens, worth around $110 million at the time.
The term sheet gives NewGen the option to sell shares of its common stock to White Lion in exchange for SOL, with this option open for an initial 24-month period. That means that an offer of company shares will see White Lion hand over tokens of equivalent value and not cash.
“This groundbreaking agreement with White Lion represents another key development in NewGen’s evolution as a forward-thinking, diversified enterprise,” Siu Wing Fung Alfred, founder and chief executive officer of NewGen noted.
He added:
“By structuring this innovative arrangement to receive Solana tokens rather than traditional cash compensation, we are not only strengthening our digital asset treasury but also demonstrating our unwavering confidence in the future of blockchain technology and decentralized finance.”
SOL will form a key part of the company’s, with NewGen looking to tap into growth opportunities around digital assets, the executive noted.
NewGen joined the digital asset strategy arms race in December 2024, taking an initial $1 million dive with a crypto portfolio.
In June 2025, it launched its treasury strategy, revealing plans to put $30 million into Solana. The company is using this agreement to bolster its Solana treasury strategy, which currently stands at 13,000 SOL valued at approximately $2.5 million.
According to data from CoinGecko, ten of the largest Solana treasury companies currently hold a total of 15,741,661 SOL, valued at over $2.9 billion. Top SOL public holders are Forward Industries, Solana Company, DeFi Development Corp., and Upexi.
