Company: PETVW
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001493152-25-007121
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Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Agreement.

Effective
as of February 14, 2025, two existing shareholders (“ Lenders”) in PetVivo Holdings, Inc. (the “ Company”), entered
into promissory notes (the “ Promissory Notes”), in the amount of $300,000 and $200,000, respectively, plus accrued interest
that may be converted into up to approximately 846,154 Shares; each Share is one (1) restricted share of Company Common Stock, having
a par value of $0.001 per share (“ Share”). The maturity date of the Promissory Note is on or about February 14, 2026, the
interest rate is 10% per annum and the effective conversion price is $0.65 per Share. The issuance of restricted shares of the Company’s
common stock upon conversion of the Promissory Note is exempt from registration under Section 4(a)(2) of the Securities Act. The Lenders
are sophisticated and represented in writing that each are accredited investors and acquired the securities for their own account for
investment purposes. A legend will be placed on the stock certificates issued upon conversion of the Promissory Note 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.

Furthermore,
as additional compensation for entering into the Promissory Notes, the Lenders were issued a Warrant granting the right to purchase 150,000
and 100,000 shares of common stock of the Company, respectively (“ Warrant Shares”). Each Warrant has a term of three years
and an exercise price of $0.90 per Warrant Share.

The
foregoing is only a summary of the material terms of the Promissory Note and does not purport to be a complete description of the rights
and obligations of the parties thereunder. The summary of the Promissory Note is qualified in its entirety by reference to the forms
of such agreement, which is filed as Exhibit 10.1 this Current Report and incorporated herein by reference.

Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.