Tevogen ("Tevogen Bio Holdings Inc." or "Company") (NASDAQ:TVGN) today announced that it has entered into a securities purchase agreement for a private investment in public equity (the "PIPE") financing with existing investor The Patel Family, LLP for gross proceeds of $3 million. The Company intends to use the proceeds from the PIPE financing to support ongoing operations, advance strategic growth initiatives, and for general corporate purposes.

Pursuant to the terms of the securities purchase agreement, Tevogen will issue 375,000 prefunded warrants each exercisable for the purchase of one share of the Company's common stock. The PIPE financing was priced at $8.00 per prefunded warrant, which represents a 14% premium to the closing price of the Company's stock on May 11, 2026. The PIPE financing is expected to close on or about May 13, 2026.