secwatch.observer — SEC 8-K summary
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Issuer:     Tevogen Bio Holdings Inc. (TVGN)
CIK:        0001860871
Form:       8-K
Filed at:   2024-03-21T23:59:59+00:00
Accession:  0001493152-24-010806
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860871/000149315224010806/0001493152-24-010806-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860871/000149315224010806/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-010806

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