EX-99.1 3 ex99-1.htm EX-99.1 Exhibit 99.1 Tevogen Announces Reverse Stock Split March 4, 2026 WARREN, N.J., Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN ) today announced that its Board of Directors (the “Board”) has approved a reverse stock split of its common stock at a ratio of 50 for 1. Stockholders previously approved the reverse stock split on February 19, 2026, and provided the Board with discretion to determine the final reverse stock split ratio. The reverse stock split is being conducted to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Global Market (“Nasdaq”) and is expected to become effective at 12:01 a.m. on March 6, 2026 (the “Effective Date”). The Company’s common stock is expected to begin trading on Nasdaq on a split-adjusted basis as of the beginning of trading on March 6, 2026, under the same symbol, “TVGN”, and a new CUSIP number, 88165K 200. On the Effective Date, every 50 shares of the Company’s common stock issued and outstanding will be automatically converted into one share. No fractional shares will be issued in connection with the reverse stock split. Holders of common stoc…
Open exhibit ↗Current Report · Items 3.03, 5.03, 7.01, 9.01 · 8-K
Tevogen Inc.
TVGNNASDAQEQUITYCurrent
Material Modification to Rights of Security Holders · Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · Regulation FD Disclosure
Item 3.03 Material Modification to Rights of Security Holders. To the extent required by Item 3.03 of Form 8-K, the information regarding the Reverse Stock Split (as defined below) contained in Item 5.03 of this Current Report on Form 8-K is incorporated by reference herein.
Company context
Current securities
Recent company filings
- Other EventsSep 30, 2026
- Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory ArrangementsSep 16, 2026
- 4 filingSep 15, 2026
- Other EventsSep 10, 2026
- Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · Submission of Matters to a Vote of Security HoldersAug 26, 2026
Disclosure sections
Item 3.03Item 3.03 - Material Modification to Rights
Item
3.03 Material Modification to Rights of Security Holders.
To
the extent required by Item 3.03 of Form 8-K, the information regarding the Reverse Stock Split (as defined below) contained in Item
5.03 of this Current Report on Form 8-K is incorporated by reference herein.
Item 5.03Item 5.03 - Amendments to Articles/Bylaws
Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On
March 3, 2026, Tevogen Bio Holdings Inc. (the “Company”) filed a Certificate of Amendment to its Certificate of Incorporation
(the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock
split of the issued and outstanding common stock, par value $0.0001 per share (the “Common Stock”), of the Company (the “Reverse
Stock Split”), to be effective as of March 6, 2026 (the “Effective Date”). The Common Stock will be quoted on the Nasdaq
Stock Market on a post-split basis at the open of business on the Effective Date.
As
disclosed in the Company’s Current Report on Form 8-K filed on February 25, 2026, the Company’s stockholders approved the
Certificate of Amendment at a special meeting of stockholders held on February 19, 2026, at a ratio between 1-for-25 and 1-for-85, with
the final ratio, implementation and timing to be determined by the Board of Directors of the Company (the “Board”) in its
sole discretion.
Effects
of the Reverse Stock Split
As
of March 3, 2026, there were 202,416,556 shares of the Company’s Common Stock issued and outstanding. The Reverse Stock Split reduces
the total number of issued and outstanding shares of Common Stock by a ratio of 1-for-50. Accordingly, each of our stockholders will
own fewer shares of Common Stock as a result of the Reverse Stock Split. However, the Reverse Stock Split affects all stockholders uniformly
and does not affect any stockholder’s percentage ownership interest in the Company, except to the extent that the Reverse Stock
Split would result in an adjustment to a stockholder’s ownership of Common Stock due to the treatment of fractional shares in the
Reverse Stock Split as described below.
The
Company is currently authorized to issue a maximum of 800,000,000 shares of our Common Stock. The number of authorized shares of Common
Stock will not change as a result of the Reverse Stock Split.
CUSIP
Number; Symbol
In
connection with the Reverse Stock Split, the CUSIP number for the Common Stock will change to 88165K200. The trading symbol for the Common
Stock, TVGN, will remain unchanged.
Split
Adjustment; Treatment of Fractional Shares
On
the Effective Date, the total number of shares of Common Stock held by each stockholder of the Company will be converted automatically
into the number of shares of Common Stock equal to: (i) the number of issued and outstanding shares of Common Stock held by each such
stockholder immediately prior to the Reverse Stock Split divided by (ii) 50.
The
Company does not intend to issue fractional shares in the event that a stockholder owns a number of shares of Common Stock that is not
evenly divisible by the Reverse Stock Split ratio. Instead, any fractional share that would otherwise result from the Reverse Stock Split
because the stockholder owns a number of shares not evenly divisible by the ratio will instead settle in cash. The cash amount to be
paid to each holder of shares of Common Stock will be equal to the resulting fractional interest in one share of our Common Stock to
which the stockholder would otherwise be entitled, multiplied by the closing trading price of our Common Stock on the trading day immediately
preceding the Effective Date (as adjusted to give effect to the Reverse Stock Split), without interest.
Also
on the Effective Date, all convertible preferred stock and warrants of the Company outstanding immediately prior to the Reverse Stock
Split will be adjusted by dividing the number of shares of Common Stock into which such securities are convertible or exercisable by
50 and multiplying the per share conversion or exercise price thereof by 50, all in accordance with the terms of the plans, agreements,
or arrangements governing such securities.
Stockholders
who hold shares of Common Stock electronically in “book-entry” form will have their holdings electronically adjusted by Continental
Stock Transfer and Trust Company, the transfer agent for the Common Stock (and, for beneficial owners, by their brokers or banks that
hold in “street name” for their benefit, as the case may be), to give effect to the Reverse Stock Split. If any book-entry
statement representing pre-Reverse Stock Split shares of Common Stock to be exchanged contain a restrictive legend or notation, as applicable,
the book-entry statement representing post-Reverse Stock Split shares of Common Stock will contain the same restrictive legend or notation.
The
foregoing summary of the Certificate of Amendment is qualified in its entirety by reference to the Certificate of Amendment, a copy of
which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item
7.01 Regulation FD Disclosure.
On
March 4, 2026, the Company issued a press release announcing the Reverse Stock Split. A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and is incorporated herein by reference.