Tevogen Bio receives Nasdaq bid price deficiency notice, repurchases Series B Preferred Stock

Tevogen Bio Holdings Inc.

Received Nasdaq letter on June 14, 2024, for non-compliance with $1.00 minimum bid price rule for 35 consecutive business days.
Company has 180 days until December 11, 2024, to regain compliance by closing bid price at $1.00 or more for 10 consecutive days.
Repurchased all 3,613 shares of Series B Preferred Stock from SSVK Associates LLC on June 15, 2024, reassuming $3.6 million liabilities.
Suren Ajjarapu, managing member of SSVK, is a board member; SSVK owns over 5% of common stock.
Repurchase cancelled all outstanding Series B Preferred Stock; related Assignment and Assumption Agreement terminated.

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