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Tevogen Bio Shareholders Approve Reverse Split Authorization
Tevogen Bio Holdings shareholders approved an amendment to the company’s 2024 equity incentive plan and authorized a flexible reverse stock split at a ratio between 1-for-25 and 1-for-85, to be implemented at the board’s discretion. Both proposals received strong support, aimed at adjusting the capital structure and equity incentives. TipRanks’ AI Analyst, Spark, rates TVGN as Neutral due to very weak financial performance and a strong downtrend in technicals.