PetVivo Holdings Secures $3 Million from Investor Purchase Option
PetVivo Holdings Announces Major Investment Milestone
PetVivo Holdings, Inc. (OTCQB: PETV; OTCPINK: PETVW), an innovative biomedical device company, has recently achieved a remarkable milestone by receiving a partial exercise of a purchase option that resulted in a $3 million investment. This funding is part of a larger effort to secure $5 million in equity financing through the issuance of Series B Convertible Preferred Stock.
Details of the Purchase Option
The investment indicates strong interest from investors in PetVivo's growth trajectory and product offerings. A total of $4 million has been raised from the current series, with an additional $1 million remaining available for exercise. The share price for the Series B Stock stands at $1.00 each, convertible into common stock at a one-to-one ratio, reflecting a favorable growth outlook for the company.
Strategic Use of Proceeds
The proceeds from this funding are strategically designated to boost the commercialization of PetVivo's flagship products, SPRYNG with OsteoCushion Technology and PrecisePRP. These products are designed to significantly improve the lives of companion animals, enhancing their health and mobility.
Innovative Product Overview
SPRYNG utilizes advanced sterile microparticles that integrate with the animal's synovial tissue, effectively restoring joint function while alleviating pain associated with conditions like osteoarthritis. This innovative veterinary medical device demonstrates PetVivo's commitment to enhancing animal wellbeing through advanced technology.
On the other hand, PrecisePRP is an off-the-shelf solution designed for use by veterinarians, providing a hassle-free alternative to traditional platelet-rich plasma preparations. By eliminating the need for blood draws or centrifugation, PrecisePRP ensures consistent and reliable treatment options for animals, showcasing the adaptability and efficiency of PetVivo's solutions.
CEO's Insight on the Investment
John Lai, CEO of PetVivo Holdings, expressed enthusiasm about this recent investment, emphasizing its importance for the company's future direction. He noted, "This investment not only strengthens our financial foundation but also supports the expansion of our innovative product line and the commercialization of our leading products." This sentiment reflects PetVivo’s strategic vision aimed at providing long-term value to its stakeholders.
About PetVivo Holdings
PetVivo is more than just a biomedical device company; it's a pioneer focused on developing and marketing advanced medical devices and therapeutics for companion animals. The company operates with a commitment to harnessing human medical advancements and adapting them for use in veterinary applications.
With a portfolio of 21 patents safeguarding its unique biomedical innovations, PetVivo stands out in the industry. Its flagship products—SPRYNG with OsteoCushion technology and PrecisePRP—reflect the company's dedication to improving animal health while providing efficient solutions for veterinarians.
Contact Information
For those interested in learning more about PetVivo Holdings, Inc., please reach out to:
John Lai, CEO
PetVivo Holdings, Inc.
Email: info1@petvivo.com
(952) 405-6216
Frequently Asked Questions
What is the recent investment amount received by PetVivo Holdings?
PetVivo Holdings announced a recent investment of $3 million from a partial exercise of a purchase option.
How does the Series B Convertible Preferred Stock work?
Each share of Series B Convertible Preferred Stock is priced at $1.00 and can be converted into one share of common stock.
What products are being funded by this investment?
This funding is aimed at advancing the commercialization of SPRYNG with OsteoCushion Technology and PrecisePRP.
What unique features does PrecisePRP offer?
PrecisePRP is an off-the-shelf product that eliminates the need for blood draws or centrifugation, providing convenience and consistency in treatment.
How many patents does PetVivo hold for its products?
The company holds 21 patents covering its biomaterials and products, showcasing its innovative approach to animal health.
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