other material
confidence high
sentiment negative
materiality 0.60
PetVivo raises $5M in Series B convertible preferred stock financing
PetVivo Holdings, Inc.
- Initial $600K received; investor may purchase remaining $4.4M by May 27, 2025.
- Preferred shares pay 10% annual dividend in common stock; convertible 1:1 into common.
- Company can call shares after 2 years at $1.15 per share; proceeds for commercialization.
- Stock trades OTCQB (PETV) after Nasdaq delisting; offering is exempt under Section 4(a)(2).
- Use of proceeds: lead products Spryng and PrecisePRP, clinical trials, working capital.