Tevogen Bio secures $36M unsecured credit line from 5% owner Patel Family; equity-linked terms

Tevogen Bio Holdings Inc.

Loan agreement with The Patel Family LLP (affiliate of 5% holder Manmohan Patel) for up to $36M unsecured facility.
Monthly draws up to $1M; interest is lower of SOFR+2% or 7%, payable quarterly in shares at $1.50/share.
Repayment in cash or stock at greater of $1.50 or 10-day VWAP; maturity 48 months per draw.
Lender gets option to buy $14M+ in stock at 30% discount to VWAP when stock hits $10 (PIPE).
Issuance capped at 19.99% of shares without stockholder consent; 1M commitment shares issued.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.