Pursuant to the terms of the securities purchase agreement, Tevogen will issue 375,000 prefunded warrants each exercisable for the purchase of one share of the Company's common stock. The PIPE financing was priced at $8.00 per prefunded warrant, which represents a 14% premium to the closing price of the Company's stock on May 11, 2026. The PIPE financing is expected to close on or about May 13, 2026.
"Having The Patel Family, LLP continue to support Tevogen reflects a shared belief in both our mission and our long-term vision for building a more accessible and sustainable healthcare model," said Tevogen Bio founding CEO Ryan Saadi, MD, MPH. "We believe this financing along with an existing ATM offering and loan agreement, provides the company with access to adequate capital to reach revenue milestones."
"Our continued investment emphasizes our conviction in Tevogen, its leadership and novel technology, and we look forward to being long-term holders," said investor Dr. Manmohan Patel, MD, on behalf of The Patel Family, LLP.
The securities issued in the PIPE financing have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. In connection with the private placement, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares issuable upon ...
