Tevogen Bio issues Series A and Series B Preferred Stock to raise $8M and settle ~$3.6M liabilities

Tevogen Bio Holdings Inc.

Created Series A Preferred Stock sold to Dr. Manmohan Patel for $8M ($4,000 per share), cumulative 5% annual dividend rising 2% yearly.
Series A holders can convert to common stock at any time; company can call at $4,000/share if VWAP >$5.00 for 20 days.
Series B Preferred Stock issued to Sponsor for assuming ~$3.6M in liabilities; quarterly dividend starts at 3.25% per quarter, increasing monthly up to 7.5%.
Series A ranks senior to all common and Series B; Series B ranks junior to Series A but senior to common stock.
Both series have no maturity, no sinking fund, no voting rights (except as required by law or specified).

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Tevogen Bio Holdings Inc.: Created Series B Preferred Stock and established its rights, preferences and terms (effective 2024-03-15).

Change: charter amendment
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Company filed the Certificate of Designation of Series B Preferred Stock (the “Series B Certificate of Designation”) with the Delaware Secretary of State, creating the Series B Preferred Stock and establishing the rights, preferences and other terms of the Series B Preferred Stock, and issuing the Series B Preferred Stock.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Tevogen Bio Holdings Inc.: Created Series A Preferred Stock and established its rights, preferences and terms (effective 2024-03-15).

Change: charter amendment
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Company filed the Certificate of Designation of Series A Preferred Stock (the “Series A Certificate of Designation”) with the Delaware Secretary of State, creating the Series A Preferred Stock and establishing the rights, preferences and other terms of the Series A Preferred Stock, and issued the Series A Preferred Stock.

View on SEC.gov

24 governance changes filed in the last 30 days. Browse all governance changes →

Tevogen Bio Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-010806

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