PetVivo Holdings Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement, Entry into a Material Definitive Agreement
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| Item1.01 | Entry into a Material Agreement. |
Effective as of September 30, 2025, four shareholders (the “Lenders”) of PetVivo Holdings, Inc. (the “Company”) entered into note conversion agreements (“Conversion Agreements”) to convert the outstanding balances of fourteen promissory notes (“Notes”) having an aggregate debt outstanding of $2,018,155 consisting of principal amount of $1.850,000, plus total accrued interest of $168,155. The Notes converted into 3,669,806 shares of Company common stock (“Shares”). The effective conversion prices of the Notes range from $0.50 to $0.75 per Share and the Notes were fully converted, thereby considered paid in full, and cancelled upon the issuance of the Shares. The issuance of restricted shares of the Company’s common stock upon conversion of the Promissory Notes are exempt from registration under Section 4(a)(2) of the Securities Act. The Lenders are sophisticated and represented in writing that they are accredited investors and acquired the securities for their own account for investment purposes. A legend was placed on the stock certificates issued upon conversion of the Promissory Notes stating that the securities are “restricted securities” under Rule 144 of the Securities Act, have not been registered under the Securities Act and cannot be sold or otherwise transferred without registration or an exemption therefrom.
The foregoing is only a summary of the material terms of the Conversion Agreements and does not purport to be a complete description of the rights and obligations of the parties thereunder. The summary of the Conversion Agreement is qualified in its entirety by reference to the form of such agreement, which is filed as Exhibit 10.1 this Current Report and incorporated herein by reference.
| Item1.02 | Termination of a Material Definitive Agreement. |
To the extent required by Item 1.02 of Form 8-K, the information contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
10.1 |
Form of Conversion Agreement between the Company and the Noteholders |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| PETVIVO HOLDINGS, INC. | ||
| Date: September 30, 2025 | By: | /s/ John Lai |
| Name: | John Lai | |
| Title: | Chief Executive Officer | |