TVGN · Debt repaid, CEO gets 50M shares

Tevogen amended its $36M credit facility with The Patel Family LLP, extending the borrowing period to May 2029, setting a fixed $7.40/share price for share repayments, and repaying the $7.4M outstanding balance plus $177,880 interest with 1,023,733 shares. Separately, the CEO received 50M performance-vesting restricted shares requiring $1B revenue by 2031, increasing his voting power to 90.9%.

• Outstanding $7.4M loan principal plus $177,880 interest repaid with 1,023,733 shares at $7.40/share, eliminating all liabilities under the agreement
• CEO Ryan Saadi granted 50,000,000 restricted shares vesting only if Tevogen achieves $1.0B revenue by Dec 31, 2031; unvested shares carry voting rights
• Post-grant and repayment, Saadi holds ~90.9% voting power of 67,880,267 outstanding shares
• Credit facility extended to May 31, 2029 with $28.6M remaining available; up to ~4.99M additional shares may be issuable