You are correct, if you do not pass the exam prior to 2/24/2020 then you will need to take the new exam to obtain the certification. Your options are to attempt the exam before that date and pass or wait till new exam comes out and pass it instead. Per the CCNA Collab page:
"On February 24, 2020, Cisco will release a new, consolidated CCNA exam. If you have started working toward CCNA Collaboration certification, keep going. If you earn CCNA Collaboration before February 24, then on February 24, you will keep your CCNA Collaboration and you will receive the new CCNA certification plus a training badge."