Tevogen Bio raises $6M via Series C Preferred Stock; two closings Aug 30 & Sept 16

Tevogen Bio Holdings Inc.

Investor to purchase 600 shares of Series C Preferred Stock for $6.0 million aggregate.
First closing of $4.0M on Aug 30, 2024; second closing of $2.0M on Sept 16, 2024.
Conversion price: VWAP over 30 trading days prior to conversion, floor $0.6172; subject to 9.99% beneficial ownership limit.
Preferred stock carries 7.5% annual cumulative dividend, payable in kind or cash, starting Sept 30, 2024.
Company has call right after five years; stock is non-voting.

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