PetVivo Holdings, Inc. Restructures Financial Obligations with Shareholders

PetVivo Holdings, Inc. (NASDAQ: PETVW) recently reported in its Form 8-K filing to the Securities and Exchange Commission that two of its existing shareholders have entered into promissory notes with the company. The promissory notes, effective as of February 14, 2025, amount to $300,000 and $200,000, respectively, in addition to accrued interest that may be converted into approximately 846,154 Shares each. These shares represent restricted shares of the company’s common stock, valued at $0.001 per share.

The maturity date for the promissory notes is around February 14, 2026, carrying an annual interest rate of 10% and a conversion price of $0.65 per share. The conversion of these promissory notes into restricted shares of common stock is exempt from registration under Section 4(a)(2) of the Securities Act. The shareholders involved are considered accredited investors and have confirmed their acquisition of securities for investment purposes. Furthermore, a legend will be included on the stock certificates received upon the conversion of the promissory note, denoting them as “restricted securities” under Rule 144 of the Securities Act.

Moreover, as part of the arrangement, the shareholders were granted warrants allowing them to purchase 150,000 and 100,000 shares of the company’s common stock, respectively. Each warrant has a term of three years and an exercise price of $0.90 per warrant share.

While the filing provides a summary of the main terms of the promissory notes and warrants, it emphasizes that the description does not serve as a comprehensive account of the parties’ rights and obligations. Interested parties are referred to the forms of agreement filed as Exhibit 10.1 with the Current Report for detailed information.

The creation of these financial obligations and related rights has been highlighted in accordance with Item 2.03 and Item 9.01 of Form 8-K, signaling a direct financial engagement between PetVivo Holdings, Inc. and its shareholders.

The company signed the report on February 18, 2025, with John Lai, the Chief Executive Officer, representing PetVivo Holdings, Inc.

This information was disclosed in a report to ensure transparency in PetVivo Holdings, Inc.’s dealings with its shareholders and financial arrangements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PetVivo’s 8K filing here.

About PetVivo

PetVivo Holdings, Inc, a biomedical device company, engages in the manufacturing, commercializing, and licensing of medical devices and biomaterials for the treatment of afflictions and diseases in animals. Its lead product is Spryng, a veterinarian-administered, intraarticular injection for the management of lameness and other joint afflictions, such as osteoarthritis in dogs and horses.