10-Q Filing

TEVOGEN BIO HOLDINGS INC. CIK: 1860871 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-040622`
Period End Date	20230930
Filing Date	20231113
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 28 Cash Flow Statement 45 Stockholders Equity 30

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$129.19K	USD	Point-in-time
Cash	`Cash`	$347.55K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$51.93K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$145.17K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$399.47K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$274.36K	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$26.01M	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$25.00M	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$356.86M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$357.14M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$26.41M	USD	Point-in-time
Preferred stock, par value (in dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$210.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.00M	USD	Point-in-time
Preferred stock, par value (in dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible note payable, net of discount	`ConvertibleNotesPayableCurrent`	$625.69K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Convertible note payable, net of discount	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due to affiliate	`OtherLiabilitiesCurrent`	$140.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due to affiliate	`OtherLiabilitiesCurrent`	$200.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.83M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$350.45K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$36.25K	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$7.25K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredOfferingCostsNoncurrent`	$14.70M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredOfferingCostsNoncurrent`	$14.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.56M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption, $0.0001 par value, 2,383,053 and 34,500,000 shares at redemption value of $10.91 and $10.34 per share as of September 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$356.86M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, $0.0001 par value, 2,383,053 and 34,500,000 shares at redemption value of $10.91 and $10.34 per share as of September 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$26.01M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, $0.0001 par value, 2,383,053 and 34,500,000 shares at redemption value of $10.91 and $10.34 per share as of September 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$351.90M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Class A ordinary shares; $0.0001 par value; 200,000,000 shares authorized; 13,433,333 and 1,450,000 shares issued and outstanding (excluding 2,383,053 and 34,500,000 shares subject to possible redemption) as of September 30, 2023 and December 31, 2022, respectively	`ClassAOrdinaryShares`	$1.34K	USD	Point-in-time
Class A ordinary shares; $0.0001 par value; 200,000,000 shares authorized; 13,433,333 and 1,450,000 shares issued and outstanding (excluding 2,383,053 and 34,500,000 shares subject to possible redemption) as of September 30, 2023 and December 31, 2022, respectively	`ClassAOrdinaryShares`	$145.00	USD	Point-in-time
Class B ordinary shares; $0.0001 par value; 20,000,000 shares authorized; no shares and 11,983,333 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	`ClassBOrdinaryShares`	-	USD	Point-in-time
Class B ordinary shares; $0.0001 par value; 20,000,000 shares authorized; no shares and 11,983,333 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	`ClassBOrdinaryShares`	$1.20K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.78M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-16.16M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-14.23M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-15.55M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-14.05M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-14.66M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$26.41M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$357.14M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$605.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.63M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$198.83K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$740.30K	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$198.83K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$740.30K	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.63M	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$605.97K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$1.74M	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$2.21M	USD	3 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$2.42M	USD	3 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$334.48K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-72.50K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$29.00K	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-326.25K	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$7.25K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.81M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$2.53M	USD	3 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$327.23K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$2.39M	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$761.60K	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.79M	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-195.06K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-25.99K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$207.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-278.75K	USD	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$761.60K	USD	3 Qtrs
Net income	`ProfitLoss`	$1.79M	USD	3 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$1.74M	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$2.21M	USD	3 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$2.42M	USD	3 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$334.48K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-72.50K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$29.00K	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-326.25K	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$7.25K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.24K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-316.35K	USD	3 Qtrs
Due to affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$90.00K	USD	3 Qtrs
Due to affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$60.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$132.41K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$790.58K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-682.64K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-201.53K	USD	3 Qtrs
Cash withdrawn from Trust Account in connection with redemption	`ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption`	$333.27M	USD	3 Qtrs
Cash withdrawn from Trust Account in connection with redemption	`ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption`	-	USD	3 Qtrs
Net cash flows provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$333.27M	USD	3 Qtrs
Net cash flows provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from convertible note payable	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Proceeds from convertible note payable	`ProceedsFromConvertibleDebt`	$901.00K	USD	3 Qtrs
Redemption of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Redemption of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	$333.27M	USD	3 Qtrs
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-332.37M	USD	3 Qtrs
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-201.53K	USD	3 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$218.36K	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.05K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$347.55K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.19K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.58K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.05K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$347.55K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.19K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.58K	USD	Point-in-time
Sale of Class B shares to Investor	`SaleOfClassBSharesToInvestor`	-	USD	3 Qtrs
Sale of Class B shares to Investor	`SaleOfClassBSharesToInvestor`	$3.96M	USD	3 Qtrs
Sale of warrants	`SaleOfWarrants`	$20.00K	USD	3 Qtrs
Sale of warrants	`SaleOfWarrants`	-	USD	3 Qtrs
Remeasurement for redeemable shares to redemption value	`TemporaryEquityAccretionToRedemptionValue`	$2.22M	USD	3 Qtrs
Remeasurement for redeemable shares to redemption value	`TemporaryEquityAccretionToRedemptionValue`	$2.42M	USD	3 Qtrs
Remeasurement for redeemable shares to redemption value	`TemporaryEquityAccretionToRedemptionValue`	$4.96M	USD	Annual

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-16.16M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-14.23M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-15.55M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-14.05M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-14.66M	USD	Point-in-time
Conversion of Class B shares	`ConversionOfStockAmountConverted1`	-	USD	1 Quarter
Accretion of carrying value to redemption value	`AccretionOfCarryingValueToRedemptionValue`	$-302.52K	USD	1 Quarter
Accretion of carrying value to redemption value	`AccretionOfCarryingValueToRedemptionValue`	$-1.78M	USD	1 Quarter
Accretion of carrying value to redemption value	`AccretionOfCarryingValueToRedemptionValue`	$-2.22M	USD	1 Quarter
Accretion of carrying value to redemption value	`AccretionOfCarryingValueToRedemptionValue`	$-334.48K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$761.60K	USD	3 Qtrs
Net Income (loss)	`NetIncomeLoss`	$1.79M	USD	3 Qtrs
Net Income (loss)	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-195.06K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-25.99K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$207.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-278.75K	USD	1 Quarter
Proceeds allocated to Class A shares issuable from the convertible note payable	`AdjustmentsToAdditionalPaidInCapitalOther`	$275.31K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-16.16M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-14.23M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-15.55M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-14.05M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-14.66M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.