Tevogen Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities. (a) Market Information Our units, Class A ordinary shares and warrants are each traded on the Nasdaq under the symbols “LGSTU,” “LGST” and “LGSTW,” respectively. Our units commenced public trading on November 3, 2021, and our Class A ordinary shares and warrants commenced public trading separately on January 3, 2022. (b) Holders On March 31, 2023, there were three (3) holders of record of our units, two (2) holders of record of our Class A ordinary shares and one (1) holder of record of our warrants. (c) Dividends We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. (d) Securities Authorized for Issuance Under Equity Compensation Plans None. (e) Recent Sales of Unregistered Securities Simultaneously with the closing of our initial public offering, we completed the private sale of an aggregate of 1,450,000 units (1,300,000 units to our sponsor and 150,000 units to Cantor) at a purchase price of $10.00 per unit, generating gross proceeds to the Company of $14,500,000. (f) Purchases of Equity Securities by the Issuer and Affiliated Purchasers None. (g) Use of Proceeds from the Initial Public Offering On November 3, 2021, our registration statement on Form S-1 (File No. 333-260113) was declared effective. On November 8, 2021, we consummated our initial public offering of 34,500,000 units. Each unit consists of one Class A ordinary share of the Company, par value $0.0001 per share, and one-half of one redeemable warrant of the Company, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share for $11.50 per share. The units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $345,000,000. Prior to the closing of our initial public offering, the underwriters for our initial public offering exercised their over-allotment option in full, which we announced in a press release issued on November 8, 2021. A total of $351,900,000, comprised of the proceeds from the initial public offering after offering expenses and a portion of the proceeds of the sale of the private placement units, was placed in the trust account maintained by Continental, acting as trustee. 20 Table of Contents Item 6. [Reserved.]