Tevogen ("Tevogen Bio Holdings Inc." or "Company") (NASDAQ:TVGN) today announced that its Board of Directors (the "Board") has approved a reverse stock split of its common stock at a ratio of 50 for 1. Stockholders previously approved the reverse stock split on February 19, 2026, and provided the Board with discretion to determine the final reverse stock split ratio.

The reverse stock split is being conducted to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Global Market ("Nasdaq") and is expected to become effective at 12:01 a.m. on March 6, 2026 (the "Effective Date"). The Company's common stock is expected to begin trading on Nasdaq on a split-adjusted basis as of the beginning of trading on March 6, 2026, under the same symbol, "TVGN", and a new CUSIP number, 88165K 200.

On the Effective Date, every 50 shares of the Company's common stock issued and outstanding will be automatically converted into one share. No fractional shares will be issued in connection with the reverse stock split. Holders of common stock who would otherwise receive a fractional share pursuant to the reverse stock split will receive cash in lieu of the fractional share. The shares of common stock underlying the Company's outstanding equity awards and warrants, the number of shares available for issuance under the Company's equity incentive plan, and the number of shares issuable upon conversion of the Company's outstanding preferred stock will also be adjusted accordingly.

The reverse stock split will be applicable to all holders of our common stock uniformly and will not affect any stockholder's percentage of ownership interest in the Company, except for any changes resulting from the treatment of fractional shares. This includes percentage of ownership for Tevogen directors and executive officers who currently beneficially own more than 70% of the Company's common stock. Further, the reverse stock split will not affect the Company's underlying business operations or total stockholders' equity.