Tevogen Bio raises $8M via Series A Preferred, assumes >$4.2M liabilities via Series B Preferred

Tevogen Bio Holdings Inc.

Series A Preferred raised $8M in two installments ($2M due Feb 15, $6M by Mar 16); convertible into 2M shares.
Series A carries 5% cumulative dividend (increases 2% annually); callable if 20-day VWAP >$5.00 and S-1 effective.
Series B Preferred issued to SSVK for assuming >$4.2M liabilities; 3.5% quarterly dividend (up to 7.5% quarterly cap).
SSVK converted $1.5M and Mr. Ajjarapu converted $240K loans into common at $10/share; $2M merger obligation reduced to $500K.
Issued 600K shares to two financial institutions for capital markets advisory services.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tevogen Bio Holdings Inc. entered into Series A Preferred Stock Purchase Agreement with investor associated with Dr. Manmohan Patel valued at $8,000,000 (effective 2024-02-14).

Action: entry
Agreement: equity purchase
Counterparty: investor associated with Dr. Manmohan Patel
Value: $8,000,000
Effective: 2024-02-14

Exact text from the filing

On February 14, 2024, the Company entered into a securities purchase agreement (the "Purchase Agreement") with an investor pursuant to which the investor agreed to purchase shares of Series A Preferred Stock of the Company for an aggregate purchase price of $8.0 million, payable in two installments, with the first $2.0 million due February 15, 2024, and the remaining $6.0 million due by March 16, 2024.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tevogen Bio Holdings Inc. entered into Assignment and Assumption Agreement with SSVK Associates, LLC valued at more than $4.2 million in liabilities assumed (effective 2024-02-14).

Action: entry
Counterparty: SSVK Associates, LLC
Value: more than $4.2 million in liabilities assumed
Effective: 2024-02-14

Exact text from the filing

In connection with the consummation of the Business Combination, Semper Paratus entered into an agreement as of February 14, 2024 with SSVK Associates, LLC ("SSVK"), which was Semper Paratus' sponsor, pursuant to which Semper Paratus assigned to SSVK and SSVK agreed to assume certain liabilities and obligations, including liabilities and obligations that would become liabilities and obligations of the Company as a result of the Business Combination, in the aggregate amount of more than $4.2 million, in consideration for the issuance of preferred stock of the Company (the "Series B Preferred Stock").

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77 material agreements filed in the last 30 days. Browse all material agreements →

Tevogen Bio Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-007138

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