PETVIVO HOLDINGS, INC. ANNOUNCES INVESTOR EXERCISE OF PURCHASE OPTION TIED TO SERIES B CONVERTIBLE PREFERRED STOCK OFFERING

Core Insights - PetVivo Holdings, Inc. has received $3 million from a partial exercise of a purchase option related to a $5 million equity financing offering, bringing the total received to $4 million to date [1][4] - The funds will be used to commercialize the company's key products, SPRYNG with OsteoCushion Technology and PrecisePRP, aimed at treating joint pain in companion animals [2][4] - SPRYNG is an injectable veterinary medical device that promotes joint health by integrating with animal tissue, while PrecisePRP is a convenient, off-the-shelf platelet-rich plasma product for intra-articular administration [3][8] Financial Overview - The offering consists of 5 million shares of Series B Convertible Preferred Stock priced at $1 per share, with a conversion rate of one preferred share to one common share [1] - An additional $1 million of the purchase option remains available for exercise by the investor [1] Product Details - SPRYNG utilizes sterilized extracellular matrix microparticles to restore joint mechanics and manage conditions like osteoarthritis [2] - PrecisePRP offers a consistent dose of 4 billion platelets per vial, designed for ease of use without the need for blood draws or centrifugation [3][8] Strategic Positioning - The investment strengthens the company's financial position and supports its growth strategy, including the expansion of its product portfolio [4] - PetVivo aims to leverage human medical therapies for companion animals, benefiting from a faster timeline to market compared to pharmaceuticals [6][7]