Novo Integrated stock more than doubles after hours on $1 billion collateral agreement

Novo Integrated Sciences Inc.
NVOS,
+48.36%
shares more than doubled in the extended session Thursday after the tiny healthcare company said it or entered a $1 billion funding agreement for the next 15 years. Novo Integrated shares soared as much as 155% after hours, following a 15.4% decline to close at 20 cents, giving the company a market capitalization of $31.8 million at the end of the trading day. The company, which takes a decentralized approach to healthcare, said it signed a $1 billion master collateral agreement with Blacksheep Trust, which the company said is expected “in one or more transactions during the current fiscal quarter following the validation and authentication by third-party audit procedures.”