secwatch.observer — SEC 8-K summary
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Issuer:     Tevogen Bio Holdings Inc. (TVGN)
CIK:        0001860871
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001493152-24-006751
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.02, 3.02, 9.01, 3.03, 5.03, 5.01, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

Tevogen Bio completes SPAC merger valued at $1.2B, shares trade under LGST
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- CEO Ryan Saadi owns 72.3% of outstanding shares (118.35M of 163.75M) after business combination.
- $24.0M in convertible promissory notes assumed and converted into 10,337,419 shares of common stock.
- Lock-up restricts transfer of shares by sponsor and CEO for 6 months or $12 price threshold.
- Pre-revenue biotech with no approved products; 2023 CEO salary $501K, CFO $300K, CSO $350K.
- Adopts 2024 Omnibus Incentive Plan and enters indemnification agreements with directors/officers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860871/000149315224006751/0001493152-24-006751-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860871/000149315224006751/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-006751

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer