PetVivo converts $300K note from 10% holder into 430,798 units (share + warrant) at $0.70/unit

PetVivo Holdings, Inc.

Converted $300,000 principal plus $1,558 accrued interest into 430,798 Units at $0.70/Unit.
Each Unit consists of one restricted share of common stock and one warrant to buy one share at $1.50 for three years.
A.L. Sarroff Fund LLC, a >10% shareholder, is the noteholder converting; note fully cancelled.
Issuance exempt from registration under Section 4(a)(2); shares restricted under Rule 144.

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 Conversion Agreement with A.L. Sarroff Fund, LLC valued at total principal amount of $300,000, plus accrued interest of $1,558 (effective 2024-04-29).

Action: entry
Agreement: equity purchase
Counterparty: A.L. Sarroff Fund, LLC
Value: total principal amount of $300,000, plus accrued interest of $1,558
Effective: 2024-04-29

Exact text from the filing

Effective as of April 29, 2024, A.L. Sarroff Fund, LLC (the “Lender”), a greater than 10% shareholder in PetVivo Holdings, Inc. (the “Company”) entered into a note conversion agreement dated April 29, 2024 (“Conversion Agreement”) to convert the outstanding balance of a promissory note (“Note”) dated April 10, 2024, in the total principal amount of $300,000, plus accrued interest of $1,558 into 430,798 Units

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PetVivo Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-017304

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