PetVivo enters $300K convertible note with major shareholder at $0.70/unit

PetVivo Holdings, Inc.

$300K note from >10% holder A.L. Sarroff Fund; 10% interest, matures May 10, 2024.
Convertible into up to ~435,000 Units (1 restricted share + 1 warrant each); effective conversion price $0.70/Unit.
Warrants exercisable at $1.50 per share through third anniversary of issue date.
Shares upon conversion are restricted under Rule 144; note exempt under Section 4(a)(2).

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

PetVivo Holdings, Inc. entered into Promissory Note with A.L. Sarroff Fund, LLC valued at $300,000 (effective 2024-04-10).

Action: entry
Counterparty: A.L. Sarroff Fund, LLC
Value: $300,000
Effective: 2024-04-10

Exact text from the filing

s of April 10, 2024, A.L. Sarroff Fund, LLC (the “Lender”), a greater than 10% shareholder in PetVivo Holdings, Inc. (the “Company”) entered into a promissory note dated April 10, 2024 (the “Promissory Note”), in the amount

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PetVivo Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-014735

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