Tevogen Bio raises $6.0M via Series A-1 Preferred Stock sale to existing investor

Tevogen Bio Holdings Inc.

Sold 600 shares of Series A-1 Preferred at $10,000/share to Patel Family, LLP, affiliated with >5% holder Dr. Manmohan Patel.
Preferred converts into 600,000 common shares; carries 5% cumulative dividend, increasing 2%/yr, max 15%.
Company has call right to redeem at $10,000 plus accrued dividends if 20-day VWAP exceeds $5.00 and registration effective.
Series A-1 Preferred ranks pari passu with Series A Pref and senior to common and Series B on liquidation.
Amendment corrects omission of Item 3.02 disclosure; original filing on March 27, 2024 is restated.

Key facts

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

Tevogen Bio Holdings Inc.: Filed Certificate of Designation for Series A-1 Preferred Stock, creating new series and establishing rights, preferences, and terms (effective 2024-03-28).

Change: charter amendment
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, the Company filed the Certificate of Designation of Series A-1 Preferred Stock (the “Series A-1 Certificate of Designation”) with the Delaware Secretary of State, creating the Series A-1 Preferred Stock and establishing the rights, preferences and other terms of the Series A-1 Preferred Stock, and issued the Series A-1 Preferred Stock.

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

Tevogen Bio Holdings Inc. amended Amended and Restated Securities Purchase Agreement with an investor valued at aggregate purchase price of $6.0 million (effective 2024-03-27).

Action: amendment
Agreement: equity purchase
Counterparty: an investor
Value: aggregate purchase price of $6.0 million
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, the Company and the Investor entered into an Amended and Restated Securities Purchase Agreement, pursuant to which the parties amended and restated the Original Agreement and the Investor agreed to purchase 600 shares of Series A-1 Preferred Stock of the Company for an aggregate purchase price of $6.0 million.

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Tevogen Bio Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-014240

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