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PetVivo Holdings, Inc. (OTCQB:PETV), currently trading at $0.80 and showing impressive gains of 94% over the past year according to InvestingPro, announced Tuesday it has completed a $5 million equity financing through the sale of Series B Convertible Preferred Stock. The company received the final $1 million from an investor following the full exercise of a purchase option, closing out an offering that began earlier this year.
According to a statement in the SEC filing, PetVivo issued a total of 5 million shares of Series B Convertible Preferred Stock at $1.00 per share. Each share of the Series B Convertible Preferred Stock is convertible into one share of PetVivo’s common stock. The offering was made pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, with the investor representing accredited status and acquiring the shares for investment purposes.
The company had previously received $4 million under the same offering prior to the latest purchase. The exercise of the final $1 million completes the issuance of all shares allowed under the purchase option, closing the offering.
PetVivo also noted that the Series B Convertible Preferred Stock was designated by a Certificate of Designation filed with the Nevada Secretary of State on March 26, 2025. An amendment to the certificate was filed on March 31, 2025, clarifying terms related to the company’s call option on the preferred shares.
Certificates representing the Series B Convertible Preferred Stock will be marked as restricted securities under Rule 144 of the Securities Act.
This information is based on a statement in a press release and details disclosed in the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, PetVivo Holdings, Inc. has secured $5 million in equity financing through the issuance of Series B Convertible Preferred Stock, a move aimed at enhancing its market presence. The company has already received an initial $600,000 from an investor, with an option for an additional $4.4 million under the same terms. This financing was conducted under Section 4(a)(2) of the Securities Act of 1933, targeting accredited investors. In another development, PetVivo Holdings has announced a change in its independent registered public accounting firm, appointing Stephano Slack LLC as its new auditor, following the resignation of Assurance Dimensions, LLC. The transition was smooth, with no disagreements reported between PetVivo and its former auditor. Additionally, PetVivo has extended CEO John Lai’s employment contract until March 31, 2027, with an increased annual base salary of no less than $150,000. These strategic moves highlight PetVivo’s efforts to strengthen its financial and leadership structure as it continues to operate in the veterinary medical device market.
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