Trump announces 100% chip tariff as Apple ups U.S. investment
Tevogen Bio Holdings Inc. (NASDAQ:TVGN), which has seen an impressive 80.78% return over the past year despite operating at a loss, announced Thursday that it has entered into a Sales Agreement with A.G.P./Alliance Global Partners (NYSE:GLP). According to InvestingPro data, the company currently maintains a market capitalization of $228.71 million. Under the agreement, Tevogen Bio may issue and sell up to $50 million of its common stock, par value $0.0001 per share, from time to time through A.G.P./Alliance Global Partners acting as its sales agent.
According to the company’s statement in the SEC filing, sales of common stock under the agreement will be conducted as “at-the-market” offerings as defined by SEC Rule 415. The shares will be offered pursuant to Tevogen Bio’s effective shelf registration statement on Form S-3, which was filed on June 20, 2025, and declared effective on June 26, 2025.
Each time Tevogen Bio intends to sell shares under the agreement, it will provide the agent with a placement notice specifying the number of shares, the time period for sales, any daily share limits, and any minimum price for sales. The agent is to use commercially reasonable efforts to sell the shares in accordance with these instructions. The company is not required to sell any shares under the agreement and may terminate the arrangement at any time with written notice.
Tevogen Bio will pay a commission on the gross proceeds from any sales to the agent and has granted customary indemnification rights. The company’s common stock and warrants are listed on the Nasdaq Stock Market under the symbols TVGN and TVGNW, respectively.
This information is based on a press release statement included in Tevogen Bio’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Tevogen Bio Holdings Inc. announced a significant expansion of its COVID-19 treatment, TVGN 489, to include patients aged 65 and older. This expansion is part of the company’s strategy to address a new COVID variant, NB.1.8.1, and aims to broaden its market reach. The company has reaffirmed its top-line revenue forecast, projecting $1 billion in revenue in its launch year, with a five-year cumulative estimate ranging from $10 billion to $14 billion. Additionally, Tevogen Bio has secured a deal with CD 8 Technology Services LLC, which will provide up to $50 million for its research and development and manufacturing facility.
Tevogen Bio’s CEO, Ryan Saadi, has contributed $500,000 for the build-out and first-year operating costs of the company’s new headquarters in Warren, New Jersey. The company has also amended its lease agreement to double its office space in New Jersey, extending the lease term until 2033. Furthermore, Tevogen Bio has been actively informing shareholders about the benefits of Direct Registration System (DRS) accounts compared to traditional brokerage accounts. Analyst Jason Kolbert from D. Boral (OTC:BOALY) Capital has provided a favorable outlook on Tevogen’s technology, highlighting its potential market reach in solid tumors and autoimmune diseases. These developments underscore Tevogen Bio’s strategic initiatives and growth potential in the biotechnology sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.