$TVGN
Tevogen Bio Holdings Inc. Stock $tvgn

$tvgn Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000149315223040622 Filed on November 13, 2023

Income Statement

Concept	2023 Q3
Revenue	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$610.0K
YoY Change	206.79%
% of Gross Profit
Research & Development	$1.117M
YoY Change	-37.85%
% of Gross Profit
Depreciation & Amortization	$39.70K
YoY Change	1790.48%
% of Gross Profit
Operating Expenses	$610.0K
YoY Change	206.79%
Operating Profit	-$2.325M
YoY Change
Interest Expense	$330.0K
YoY Change	355.17%
% of Operating Profit
Other Income/Expense, Net	$327.2K
YoY Change	-81.94%
Pretax Income	-$280.0K
YoY Change	-117.36%
Income Tax
% Of Pretax Income
Net Earnings	-$278.7K
YoY Change	-117.28%
Net Earnings / Revenue
Basic Earnings Per Share	-$0.03
Diluted Earnings Per Share	-$0.02
COMMON SHARES
Basic Shares Outstanding	120.0M shares
Diluted Shares Outstanding	120.0M shares

Balance Sheet

Concept	2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$300.0K
YoY Change	109.72%
Cash & Equivalents	$25.00M
Short-Term Investments
Other Short-Term Assets	$100.0K
YoY Change	-63.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$399.5K
YoY Change	-4.54%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.029M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$26.00M
YoY Change	-92.66%
Total Long-Term Assets	$26.01M
YoY Change	-92.65%
TOTAL ASSETS
Total Short-Term Assets	$399.5K
Total Long-Term Assets	$26.01M
Total Assets	$26.41M
YoY Change	-92.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.000M
YoY Change	482.14%
Accrued Expenses	$2.057M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$600.0K
YoY Change
Long-Term Debt Due	$63.75M
YoY Change
Total Short-Term Liabilities	$1.827M
YoY Change	548.28%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00
YoY Change
Other Long-Term Liabilities	$14.70M
YoY Change	-0.64%
Total Long-Term Liabilities	$14.70M
YoY Change	-0.64%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.827M
Total Long-Term Liabilities	$14.70M
Total Liabilities	$16.56M
YoY Change	9.86%
SHAREHOLDERS EQUITY
Retained Earnings	-$16.16M
YoY Change	10.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$16.16M
YoY Change
Total Liabilities & Shareholders Equity	$26.41M
YoY Change	-92.55%

Cashflow Statement

Concept	2023 Q3
OPERATING ACTIVITIES
Net Income	-$278.7K
YoY Change	-117.28%
Depreciation, Depletion And Amortization	$39.70K
YoY Change	1790.48%
Cash From Operating Activities	-$210.0K
YoY Change	393.07%
INVESTING ACTIVITIES
Capital Expenditures	$0.00
YoY Change	-100.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00
YoY Change
Cash From Investing Activities	$0.00
YoY Change	-100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000
YoY Change
NET CHANGE
Cash From Operating Activities	-210.0K
Cash From Investing Activities	0.000
Cash From Financing Activities	0.000
Net Change In Cash	-210.0K
YoY Change	393.07%
FREE CASH FLOW
Cash From Operating Activities	-$210.0K
Capital Expenditures	$0.00
Free Cash Flow	-$210.0K
YoY Change	24.05%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001860871
CY2022Q4	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent		usd
CY2023Q3	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2023Q3	LGST	Class B Ordinary Shares ClassBOrdinaryShares		usd
CY2023Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital		usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital		usd
CY2023Q1	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1		usd
	LGST	Proceeds From Cash Withdrawn From Trust Account In Connection With Redemption ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption		usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities		usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt		usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock		usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities		usd
	LGST	Sale Of Class B Shares To Investor SaleOfClassBSharesToInvestor		usd
	LGST	Sale Of Warrants SaleOfWarrants		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2023-09-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-41002
	dei	Entity Registrant Name EntityRegistrantName	SEMPER PARATUS ACQUISITION CORPORATION
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	E9
	dei	Entity Address Address Line1 EntityAddressAddressLine1	767 Third Avenue, 38th Floor
	dei	Entity Address City Or Town EntityAddressCityOrTown	New York
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NY
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	10017
	dei	City Area Code CityAreaCode	913
	dei	Local Phone Number LocalPhoneNumber	579-4170
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	true
CY2023Q3	us-gaap	Cash Cash	347546	usd
CY2022Q4	us-gaap	Cash Cash	129186	usd
CY2023Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	51928	usd
CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	145170	usd
CY2023Q3	us-gaap	Assets Current AssetsCurrent	399474	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	274356	usd
CY2023Q3	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	26010413	usd
CY2022Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	356864000	usd
CY2023Q3	us-gaap	Assets Assets	26409887	usd
CY2022Q4	us-gaap	Assets Assets	357138356	usd
CY2023Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	1001036	usd
CY2022Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	210454	usd
CY2023Q3	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	625694	usd
CY2023Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	200000	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	140000	usd
CY2023Q3	us-gaap	Liabilities Current LiabilitiesCurrent	1826731	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	350454	usd
CY2023Q3	us-gaap	Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares	36250	usd
CY2022Q4	us-gaap	Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares	7250	usd
CY2023Q3	LGST	Deferred Offering Costs Noncurrent DeferredOfferingCostsNoncurrent	14700000	usd
CY2022Q4	LGST	Deferred Offering Costs Noncurrent DeferredOfferingCostsNoncurrent	14700000	usd
CY2023Q3	us-gaap	Liabilities Liabilities	16562980	usd
CY2022Q4	us-gaap	Liabilities Liabilities	15057704	usd
CY2023Q3	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	26010413	usd
CY2022Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	356864000	usd
CY2023Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2023Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q3	LGST	Class A Ordinary Shares ClassAOrdinaryShares	1343	usd
CY2022Q4	LGST	Class A Ordinary Shares ClassAOrdinaryShares	145	usd
CY2022Q4	LGST	Class B Ordinary Shares ClassBOrdinaryShares	1198	usd
CY2023Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-16164849	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-14784691	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	-16163506	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-14783348	usd
CY2023Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	26409887	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	357138356	usd
CY2023Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	605971	usd
CY2022Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	198832	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1626463	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	740296	usd
CY2023Q3	us-gaap	Costs And Expenses CostsAndExpenses	605971	usd
CY2022Q3	us-gaap	Costs And Expenses CostsAndExpenses	198832	usd
	us-gaap	Costs And Expenses CostsAndExpenses	1626463	usd
	us-gaap	Costs And Expenses CostsAndExpenses	740296	usd
CY2023Q3	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	334475	usd
CY2022Q3	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	1739196	usd
	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	2417061	usd
	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	2207920	usd
CY2023Q3	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	7250	usd
CY2022Q3	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-72500	usd
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	29000	usd
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-326250	usd
CY2023Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	327225	usd
CY2022Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1811696	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	2388061	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	2534170	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-278746	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	1612864	usd
	us-gaap	Net Income Loss NetIncomeLoss	761598	usd
	us-gaap	Net Income Loss NetIncomeLoss	1793874	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-14783348	usd
CY2023Q1	LGST	Accretion Of Carrying Value To Redemption Value AccretionOfCarryingValueToRedemptionValue	-1780062	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1235400	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-15328010	usd
CY2023Q2	LGST	Accretion Of Carrying Value To Redemption Value AccretionOfCarryingValueToRedemptionValue	-302525	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	275306	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-195056	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-15550285	usd
CY2023Q3	LGST	Accretion Of Carrying Value To Redemption Value AccretionOfCarryingValueToRedemptionValue	-334475	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-278746	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	-16163506	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-14227709	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-25988	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	-14253697	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	206998	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-14046699	usd
CY2022Q3	LGST	Accretion Of Carrying Value To Redemption Value AccretionOfCarryingValueToRedemptionValue	-2223725	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	1612864	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	1612864	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	-14657560	usd
	us-gaap	Profit Loss ProfitLoss	761598	usd
	us-gaap	Profit Loss ProfitLoss	1793874	usd
	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	2417061	usd
	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	2207920	usd
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	29000	usd
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-326250	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-93242	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-316354	usd
	us-gaap	Increase Decrease In Due To Affiliates Current IncreaseDecreaseInDueToAffiliatesCurrent	60000	usd
	us-gaap	Increase Decrease In Due To Affiliates Current IncreaseDecreaseInDueToAffiliatesCurrent	90000	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	790581	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	132408	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-682640	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-201534	usd
	LGST	Proceeds From Cash Withdrawn From Trust Account In Connection With Redemption ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption	333270649	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	333270649	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	901000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	333270649	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-332369649	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	218360	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-201534	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	129186	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	344581	usd
CY2023Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	347546	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	143047	usd
	LGST	Sale Of Class B Shares To Investor SaleOfClassBSharesToInvestor	3955111	usd
	LGST	Sale Of Warrants SaleOfWarrants	20000	usd
	us-gaap	Temporary Equity Accretion To Redemption Value TemporaryEquityAccretionToRedemptionValue	2417062	usd
	us-gaap	Temporary Equity Accretion To Redemption Value TemporaryEquityAccretionToRedemptionValue	2223725	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_808_eus-gaap--NatureOfOperations_zsiDUjFLTKU3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 — <span id="xdx_82C_z8969oziN66f">Description of Organization, Business Operations and Liquidity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Semper Paratus Acquisition Corporation (the “Company”) was incorporated as a Cayman Islands exempted company on April 21, 2021. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with <span id="xdx_90A_ecustom--ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum_dc_uInteger_c20230101__20230930_z4HQSk7rnytj" title="Condition for future business combination number of businesses minimum">one</span> or more businesses (the “Business Combination”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s wholly owned subsidiary, Semper Merger Sub, Inc., a Delaware corporation, was incorporated on June 28, 2023 and has had no activity as of September 30, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2023, the Company had not commenced any operations. All activity through September 30, 2023, relates to the Company’s formation and Initial Public Offering (“IPO”), which is described below, and the search for a prospective initial Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income earned on investments from the proceeds derived from the IPO.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The registration statement for the Company’s IPO was declared effective on November 3, 2021. On November 8, 2021, the Company consummated the IPO of <span id="xdx_908_ecustom--UnitsIssuedDuringPeriodSharesNewIssues_pid_c20211108__20211108__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zRu64laA3dfk" title="Units Issued During Period, Shares, New Issues">30,000,000</span> units (“Units”) with respect to the ordinary shares included in the Units being offered (the “Public Shares”) at $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20211108__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zerYdXmVS9C5" title="Purchase price, per unit">10.00</span> per Unit generating gross proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211108__20211108__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z2qulsbT8eF5" title="Proceeds from Issuance Initial Public Offering">300,000,000</span>, which is discussed in Note 3. The company has selected December 31 as its fiscal year end.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Simultaneously with the closing of the IPO, the Company consummated the sale of <span id="xdx_90A_ecustom--UnitsIssuedDuringPeriodSharesNewIssues_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zfmCw56iaIZb" title="Units Issued During Period, Shares, New Issues">1,360,000</span> private placement units (“Private Placement Units”) at a price of $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_c20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zBS0LgxHIanb" title="Purchase price, per unit">10.00</span> per Private Placement Unit in a private placement to the Company’s sponsor, Semper Paratus Sponsor LLC (the “Original Sponsor”) and underwriter Cantor Fitzgerald & Co. (“Cantor”), generating gross proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zWEiif0RIUPc" title="Proceeds from Issuance Initial Public Offering">13,600,000</span> which is described in Note 4.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Simultaneously with the closing of the IPO, the Company consummated the closing of the sale of <span id="xdx_906_ecustom--UnitsIssuedDuringPeriodSharesNewIssues_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_ziMuW5lr3jSc" title="Units issued during period, shares new">4,500,000</span> additional Units upon receiving notice of the underwriter’s election to fully exercise its overallotment option (“Overallotment Units”), generating additional gross proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zjDiYpAklpa2" title="Proceeds from issuance initial public offering">45,000,000</span> and incurring additional offering costs of $<span id="xdx_90A_ecustom--DeferredOfferingCostsNoncurrent_iI_c20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zA4WeBd5mPv" title="Deferred offering costs noncurrent">2,700,000</span> in underwriting fees all of which are deferred until completion of the Company’s Business Combination. Simultaneously with the exercise of the overallotment, the Company consummated the Private Placement of an additional <span id="xdx_908_ecustom--UnitsIssuedDuringPeriodSharesNewIssues_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__dei--LegalEntityAxis__custom--SponsorMember_zclSNLIU0837" title="Units issued during period, shares new issues">90,000</span> Private Placement Units to the Original Sponsor, generating gross proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__dei--LegalEntityAxis__custom--SponsorMember_zb1t1JrImu79" title="Proceeds from issuance initial public offering">900,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offering costs for the IPO amounted to $<span id="xdx_90D_ecustom--TransactionCosts_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zz0Zwd4PV0li" title="Offering costs">21,266,594</span>, consisting of $<span id="xdx_90E_ecustom--SaleOfStockUnderwritingFees_c20211108__20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zjNGk3wIXGnl" title="Underwriting fees">6,000,000</span> of paid underwriting fees, $<span id="xdx_90E_ecustom--DeferredOfferingCostsNoncurrent_iI_c20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_znlsg0RPT6Ca" title="Deferred offering costs non current">14,700,000</span> of deferred underwriting fees payable (the “Original Deferred Fee”) (which are held in the Trust Account (defined below) and $<span id="xdx_901_ecustom--SaleOfStockOtherOfferingCosts_iI_c20211108__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zP5O0HPMvyG5" title="Other offering costs">566,594</span> of other costs. On June 28, 2023, the Company and Cantor entered into a fee reduction agreement (the “Fee Reduction Agreement”), pursuant to which Cantor has agreed to forfeit $<span id="xdx_904_ecustom--DeferredOfferingCostsNoncurrentForfeited_iI_c20230628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--TypeOfArrangementAxis__custom--FeeReductionAgreementMember_zZN2ZhncFLX1" title="Underwriting fees">9,700,000</span> of the deferred underwriting fees payable, resulting in a remainder of $<span id="xdx_900_ecustom--DeferredOfferingCostsNoncurrent_iI_c20230628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--TypeOfArrangementAxis__custom--FeeReductionAgreementMember_zRirjfT0Cy2i" title="Deferred offering costs non current">5,000,000</span> of deferred underwriting fees payable (the “Reduced Deferred Fee”) by the Company to Cantor upon the closing of the contemplated Transaction (as defined below) with Tevogen Bio Inc. The Reduced Deferred Fee shall be payable to Cantor in the form of <span id="xdx_906_ecustom--UnitsIssuedDuringPeriodSharesNewIssues_c20230628__20230628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--TypeOfArrangementAxis__custom--FeeReductionAgreementMember_zh7HfgPUAVE6" title="Common equity securities">500,000</span> shares of the common equity securities of the entity that survives the Transaction. The Fee Reduction Agreement only applies to the consummation of the Transaction with Tevogen Bio Inc and no other potential Business Combinations that may be contemplated or consummated by the Company. In the event that the Company does not complete the Transaction with Tevogen Bio, Inc, the Original Deferred fee shall become due and payable by the Company to Cantor as originally set forth in the Underwriting Agreement, upon the consummation of a Business Combination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the closing of the IPO, $<span id="xdx_908_ecustom--PaymentsForInvestmentOfCashInTrustAccount_c20211108__20211108__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z3hVJmdZGfu8" title="Payments for investment of cash in trust account">351,900,000</span> ($<span id="xdx_902_eus-gaap--SharesIssuedPricePerShare_iI_c20211108__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zKpyuGBPGfR5" title="Purchase price, per unit">10.20</span> per Unit) from the net proceeds of the sale of the Units in the IPO and the Private Placement Units was placed in a trust account (“Trust Account”) and will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account, as described below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale of the Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least <span id="xdx_907_ecustom--ConditionForFutureBusinessCombinationUseOfProceedsPercentage_iI_dp_uPure_c20230930_zW4CAl7an2Jh" title="Condition for future business combination use of proceeds percentage">80</span>% of the assets held in the Trust Account excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires <span id="xdx_909_ecustom--ConditionForFutureBusinessCombinationThresholdPercentageOwnership_iI_pid_dp_c20230930_z51uOUsrbuh4" title="Condition for future business combination threshold ownership (as a percent)">50</span>% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance the Company will be able to successfully effect a Business Combination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will provide the holders of the outstanding Public Shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_c20230930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zYFGceVWFdb3" title="Purchase price, per unit">10.20</span> per Public Share, plus any pro rata interest then in the Trust Account, net of taxes payable). There will be no redemption rights with respect to the Company’s warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All of the Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Company’s Business Combination and in connection with certain amendments to the Company’s amended and restated memorandum and articles of association (as amended by the Charter Amendment (defined below), the “Memorandum and Articles of Association”). In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards 480-10-S99, redemption provisions not solely within the control of a company require Class A ordinary shares subject to redemption to be classified outside of permanent equity. Given that the Public Shares were issued with other freestanding instruments (i.e., public warrants), the initial carrying value of ordinary shares classified as temporary equity was the allocated proceeds determined in accordance with FASB 470-20. The ordinary shares are subject to FASB 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes immediately. While redemptions cannot cause the Company’s net tangible assets to fall below $<span id="xdx_904_ecustom--ConditionForFutureBusinessCombinationThresholdNetTangibleAssets_iI_c20230930_z2QyZTrAi979" title="Net tangible assets">5,000,001</span>, the Public Shares are redeemable and are classified as such on the balance sheet until such date that a redemption event takes place.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemptions of the Company’s Public Shares may be subject to the satisfaction of conditions, including minimum cash conditions, pursuant to an agreement relating to the Company’s Business Combination. If the Company seeks shareholder approval of the Business Combination, the Company will proceed with a Business Combination if a majority of the shares voted are voted in favor of the Business Combination, or such other vote as required by law or stock exchange rule. If a shareholder vote is not required by applicable law or stock exchange listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its Memorandum and Articles of Association, conduct the redemptions pursuant to the tender offer rules of the SEC and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or the Company decides to obtain shareholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks shareholder approval in connection with a Business Combination, the Original Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the IPO in favor of approving a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 30, 2023, shareholders (the “Initial Shareholders”) holding all of the issued and outstanding Class B ordinary shares (the “Founder Shares”) of the Company elected to convert their Class B ordinary shares into Class A ordinary shares of the Company on a <span id="xdx_905_eus-gaap--StockholdersEquityNoteStockSplitConversionRatio1_dc_uPure_c20230130__20230130_zAjtTAa13Tf" title="Conversion ratio">one</span>-for-one basis (the “Conversion”). As a result, <span id="xdx_90D_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_c20230130__20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfklpjufPYHi" title="Shares cancelled">11,983,333</span> of the Company’s Class B ordinary shares were cancelled and <span id="xdx_903_eus-gaap--ConversionOfStockSharesIssued1_c20230130__20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBVJBB3IZtra" title="Shares issued upon conversion">11,983,333</span> Class A ordinary shares were issued to such converting Class B shareholders. The Initial Shareholders agreed that all of the terms and conditions applicable to the Founder Shares set forth in the Letter Agreement, dated November 3, 2021, by and among the Company, its officers, its directors and the Initial Shareholders (the “Letter Agreement”), shall continue to apply to the Class A ordinary shares that the Founder Shares converted into, including the voting agreement, transfer restrictions and waiver of any right, title, interest or claim of any kind to the Trust Account (as defined in the Letter Agreement) or any monies or other assets held therein. Following the Conversion, on January 30, 2023, the Company had <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_c20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyXrfEGMyhsf" title="Common stock, shares issued"><span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_c20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zw7CAqkBktbh" title="Common stock, shares outstanding">47,933,333</span></span> Class A ordinary shares issued and outstanding and <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_do_c20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zIC6Ly7PhXnf" title="Common stock, shares issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_do_c20230130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zozRuTMNR3Kg" title="Common stock, shares outstanding">no</span></span> Class B ordinary shares issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2023, the Company held an extraordinary general meeting of shareholders for the purpose of considering and voting on the Charter Amendment (as defined below) and, if presented, the proposal to adjourn the meeting to a later date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 4, 2023, the Company entered into a purchase agreement (the “Purchase Agreement”) with SSVK Associates, LLC (the “Sponsor”) and the Original Sponsor, pursuant to which the Sponsor will purchase from the Original Sponsor (x) <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230504__20230504__dei--LegalEntityAxis__custom--SponsorMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CounterpartyNameAxis__custom--SsvkAssociatesLlcMember_zE931rr9EmIh" title="Stock issued during period, Shares new issues">7,988,889</span> Class A ordinary shares and (y) <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230504__20230504__dei--LegalEntityAxis__custom--SponsorMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__srt--CounterpartyNameAxis__custom--SsvkAssociatesLlcMember_zLhm4ruhM5S7" title="Stock issued during period, Shares new issues">1,000,000</span> Private Placement Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant that is exercisable for one Class A ordinary share, free and clear of all liens and encumbrances (other than those contained in the Letter Agreement, dated November 3, 2021, by and among the Company, its officers, directors and the Original Sponsor, and the Underwriting Agreement, dated November 3, 2021, by and between the Company and Cantor, as representative of the several underwriters (the “Underwriting Agreement”)), for an aggregate purchase price of $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20230504__dei--LegalEntityAxis__custom--SponsorMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CounterpartyNameAxis__custom--SsvkAssociatesLlcMember_zZnzDlfT6E9g" title="Purchase price, per unit">1.00</span> (the “Purchase Price”) payable at the time of the initial Business Combination (see Note 5).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Charter Amendment</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2023, the Company held an extraordinary general meeting of the shareholders for the purpose of considering and voting on a charter amendment. At the meeting, the shareholders of the Company approved an amendment (the “Charter Amendment”) to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate an initial business combination from February 8, 2023 to December 15, 2023. Under Cayman Islands law, the Charter Amendment took effect upon approval by the shareholders. The Company filed the Charter Amendment with the Cayman Islands General Registry within <span id="xdx_90B_ecustom--MinimumPeriodToFileCharterAmendmentWithCaymanIslandsGeneralRegistry_dtD_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--CharterAmendmentMember_zQ0tkq89lTyc" title="Minimum period to file charter amendment">15</span> days of the meeting. In connection with the meeting, shareholders holding approximately <span id="xdx_900_ecustom--ShareholdersExercisedTheirRightToRedeemSharesNumberOfShares_iI_c20230203__us-gaap--TypeOfArrangementAxis__custom--CharterAmendmentMember__us-gaap--StatementClassOfStockAxis__custom--PublicSharesMember_zPWlq8bjloY1" title="Minimum period to file charter amendment">32,116,947</span> ordinary shares (the “public shares”) exercised their right to redeem their shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $<span id="xdx_900_ecustom--ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption_pn6n6_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--CharterAmendmentMember_zycZMF0JkhMe" title="Cash withdrawn from Trust Account in connection with redemption">332</span> million (approximately $<span id="xdx_903_eus-gaap--SharesIssuedPricePerShare_iI_c20230203__us-gaap--TypeOfArrangementAxis__custom--CharterAmendmentMember__us-gaap--StatementClassOfStockAxis__custom--PublicSharesMember_znPDKoDQzgQ8" title="Price per share">10.34</span> per public share) was removed from the Trust Account to pay such holders and approximately $<span id="xdx_908_eus-gaap--AssetsHeldInTrustNoncurrent_iI_pn6n6_c20230203_zPgfEZi2kk67" title="ash and marketable securities held in Trust Account">25</span> million remained in the Trust Account. Following redemptions, the Company has <span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_c20230203__us-gaap--TypeOfArrangementAxis__custom--CharterAmendmentMember__us-gaap--StatementClassOfStockAxis__custom--PublicSharesMember_zUoEFNpc6CU9" title="Common stock shares outstanding">2,383,053</span> public shares outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nasdaq Notices</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 23, 2023, the Company received a written notice (the “March Notice”) from the Listing Qualifications division of the Nasdaq Stock Market (“Nasdaq”) stating that the Company had not paid certain fees required by Nasdaq Listing Rule 5250(f) and that the Company would be delisted unless it appealed such determination. As of the date of the March Notice, the Company’s past due fee balance totaled $<span id="xdx_90A_ecustom--PastFeeDueBalance_iI_c20230323_zc4qTrqOQMPk" title="Past fee due balance">151,000</span>. On May 5, 2023 the Company received notification from Nasdaq that the fee delinquency was cured, and the Company is now in compliance with Nasdaq Listing Rule 5250(f).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--NasdaqWrittenNoticeDescription_c20230404__20230404_zTGJ0Au0lgXh" title="Written notice description">On April 4, 2023, the Company received a written notice (the “April Notice”) from Nasdaq indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(A), requiring the Company to maintain a Market Value of Listed Securities (“MVLS”) of $50,000,000 for the continued listing of its securities on The Nasdaq Global Market. The April Notice was only a notification of deficiency, not of imminent delisting, and had no then-current effect on the listing or trading of the Company’s securities on Nasdaq when issued. The April Notice stated that the Company has 180 calendar days, or until October 2, 2023, to regain compliance with Listing Rule 5450(b)(2)(A). On September 28, 2023, the Company received notice from Nasdaq that it had regained compliance with Listing Rule 5450(b)(2)(A) regarding the MVLS requirement.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding the foregoing, the Memorandum and Articles of Association provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), will be restricted from redeeming its shares with respect to more than an aggregate of <span id="xdx_90F_ecustom--RedemptionLimitPercentageWithoutPriorConsent_dp_uPure_c20230101__20230930_z7vidRe54os3" title="Redemption limit percentage without prior consent">15</span>% or more of the ordinary shares sold in the IPO, without the prior consent of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Original Sponsor, officers and directors (the “Initial Shareholders”) have agreed not to propose an amendment to the Memorandum and Articles of Association that would affect the substance or timing of the Company’s obligation to redeem <span id="xdx_900_ecustom--PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination_dp_uPure_c20230101__20230930_zrAemuhj71Kl" title="Obligation to redeem public shares if entity does not complete a business combination (as a percent)">100</span>% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the Public Shareholders with the opportunity to redeem their ordinary shares in conjunction with any such amendment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company is unable to complete a Business Combination by December 15, 2023, the extended date (“Combination Period”), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay the Company’s franchise and income taxes (less up to $<span id="xdx_907_ecustom--MaximumAllowedDissolutionExpenses_c20230101__20230930_zchXLQFXVO85" title="Maximum allowed dissolution expenses">100,000</span> of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Notwithstanding the forgoing, the Company may choose to file a proxy statement seeking approval from the shareholders to amend the Company’s Memorandum and Articles of Association to extend the Combination Period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Initial Shareholders have agreed to waive their liquidation rights with respect to the Founder Shares (which converted into Class A ordinary shares) if the Company fails to complete a Business Combination within the Combination Period. However, if the Initial Shareholders should acquire Public Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to its deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period, and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be only $<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_iI_c20230930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z7EVu3FcwTsj" title="Shares issued, price per share">10.20</span> per shares held in the Trust Account. In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account. This liability will not apply with respect to any claims by a third party who executed a waiver of any right, title, interest or claim of any kind in or to any monies held in the Trust Account or to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Proposed Business Combination</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 28, 2023, the Company entered into an Agreement and Plan of Merger by and among the Company, Semper Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Merger Sub”), the Sponsor, in its capacity as purchaser representative, Tevogen Bio Inc, a Delaware corporation (“Tevogen Bio”), and Ryan Saadi, in his capacity as seller representative (as may be amended and/or restated from time to time, the “Merger Agreement”), pursuant to which, among other things, the parties will affect the merger of Merger Sub with and into Tevogen Bio, with Tevogen Bio continuing as the surviving entity (the “Merger”), as a result of which all of the issued and outstanding capital stock of Tevogen Bio shall be exchanged for shares of Class A common stock, par value $<span id="xdx_90B_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20230628__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9lccSMQs3S3" title="Ordinary shares, par value (in dollar per share)">0.0001</span> per share (the “Class A Common Stock”), of the Company (the “Share Exchange”) subject to the conditions set forth in the Merger Agreement, with Tevogen Bio surviving the Share Exchange as a wholly owned subsidiary of the Company (the Share Exchange and the other transactions contemplated by the Merger Agreement, together, the “Transaction”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to the Closing Date, and subject to the satisfaction or waiver of the conditions of the Merger Agreement, the Company will migrate out of the Cayman Islands and domesticate (the “Domestication”) as a Delaware corporation in accordance with Section 388 of the DGCL and Part XIII of the Cayman Islands Companies Act (2021 Revision). In connection with the Domestication, (i) each issued and outstanding Class A ordinary share, par value $<span id="xdx_907_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20230628__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zx8cLBSXeo1f" title="Ordinary shares, par value (in dollar per share)">0.0001</span> per share will convert, on a one-for-one basis, into a duly authorized, validly issued, fully paid and nonassessable share of Class A Common Stock; and, (ii) each issued and outstanding whole warrant to purchase Class A ordinary shares of the Company will automatically represent the right to purchase one share of Class A Common Stock, at an exercise price of $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230628__20230628__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zpkCnaKn1L1k" title="Exercise price of shares">11.50</span> per share on the terms and conditions set forth in the Company’s warrant agreement. Immediately following the Domestication, (i) the Class A Common Stock will be reclassified as common stock, par value $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20230628__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z78DHv4Nv6R4" title="Ordinary shares, par value (in dollar per share)">0.0001</span> per share (the “Common Stock”); (ii) each issued and outstanding Unit that has not been previously separated into the underlying Class A ordinary share and underlying one-half of one warrant upon the request of the holder thereof, will be cancelled and will entitle the holder thereof to one share of Common Stock and one-half of one public warrant, with a whole public warrant representing the right to acquire one share of Common Stock at an exercise price of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230628__20230628__dei--LegalEntityAxis__custom--TevogebBioHoldingsIncMember_z6brLul46IYj" title="Exercise price of shares">11.50</span> per share. The Company will change its name to “Tevogen Bio Holdings Inc.” after giving effect to the Domestication.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As consideration for the Merger, the holders of Tevogen Bio’s securities collectively shall be entitled to receive from the Company, in the aggregate, a number of shares of Common Stock (the “Merger Consideration”) with an aggregate value equal to $<span id="xdx_906_eus-gaap--BusinessCombinationConsiderationTransferred1_c20230628__20230628__us-gaap--BusinessAcquisitionAxis__custom--TevogenBioSecuritiesMember_zQeCZWHOxEP7" title="Business combination, consideration transferred">1,200,000,000</span>. In addition, holders of Tevogen Bio’s securities shall also be entitled to receive from the Company, in the aggregate, an additional <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20230628__20230628__us-gaap--BusinessAcquisitionAxis__custom--TevogenBioSecuritiesMember_zUFMWHtXIMY1" title="Stock issued for acquisition">20,000,000</span> shares of the Common Stock (each an “Earnout Share Payment”) in the event that the VWAP of the Company’s Common Stock, collectively, exceeds <span id="xdx_90C_eus-gaap--BusinessAcquisitionDescriptionOfAcquiredEntity_c20230628__20230628__us-gaap--BusinessAcquisitionAxis__custom--TevogenBioSecuritiesMember_zDEZVAz4mM02" title="Business combination, description">(a) $15.00 per share for 20 out of any 30 consecutive trading days beginning on the Closing Date of the Merger Agreement until the 36-month anniversary of the Closing Date, in which case the holders of Tevogen Bio securities shall be entitled to receive an additional 6,666,667 shares of Common Stock, (b) $17.50 per share for 20 out of any 30 consecutive trading days beginning on the Closing Date of the Merger Agreement until the 36-month anniversary of the Closing Date, in which case the holders of Tevogen Bio securities shall be entitled to receive an additional 6,666,667 shares of Common Stock and (c) $20.00 per share for 20 out of any 30 consecutive trading days beginning on the Closing Date of the Merger Agreement until the 36-month anniversary of the Closing Date, in which case the holders of Tevogen Bio securities shall be entitled to receive an additional 6,666,666 shares of Common Stock. In addition, for each Earnout Share Payment, the Company will also issue to Sponsor an additional <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230628__20230628__us-gaap--BusinessAcquisitionAxis__custom--SponsorMember_z1wIMOuQQPxd" title="Number of shares issued">1,500,000</span> shares of Company Common Stock.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Merger Agreement contains customary conditions to Closing, including the following mutual conditions of the parties (unless waived): (i) approval of the shareholders of the Company and Tevogen Bio of the Transaction and the other matters requiring shareholder approval; (ii) approvals of any required governmental authorities and completion of any antitrust expiration periods; (iii) receipt of specified third party consents; (iv) no law or order preventing the Transaction; (v) the registration statement having been declared effective by the SEC; (vi) no material uncured breach by the other party; (vii) no occurrence of a material adverse effect with respect to the other party; (viii) the satisfaction of the $<span id="xdx_90C_ecustom--ConditionForFutureBusinessCombinationThresholdNetTangibleAssets_iI_c20230930_zd7jMcbERb2i" title="Maximum net tangible assets">5,000,001</span> minimum net tangible asset test by the Company; (ix) approval from NYSE for the listing of the shares of the Company’s Common Stock to be issued in connection with the Transaction; and (x) reconstitution of the post-closing board or directors of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, unless waived by Tevogen Bio, the obligations of Tevogen Bio to consummate the Transaction are subject to the satisfaction of the following additional closing conditions, in addition to the delivery by the Company of certain related agreements, customary certificates and other closing deliverables: (i) the representations and warranties of the Company being true and correct as of the date of the Merger Agreement and as of the closing (subject to customary exceptions, including materiality qualifiers); (ii) the Company having performed in all material respects its obligations and complied in all material respects with its covenants and agreements under the Merger Agreement required to be performed or complied with by it on or prior to the date of the closing; (iii) absence of any material adverse effect with respect to the Company since the date of the Merger Agreement which is continuing and uncured; (iv) at the closing, the Company having $<span id="xdx_90B_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20230930_zU24oS9nVbfa" title="Cash and cash equivalents carrying value">25,000,000</span> in cash and cash equivalents, including funds remaining in the trust account (after giving effect to the completion and payment of any redemptions, purchaser expenses, deferred purchaser expenses, loans owned by the Company to the Sponsor for any purchaser expenses, other administrative costs, other liabilities of the Company as of the closing, and any transaction expenses); (v) the Company shall have made all reasonably necessary arrangements with the trustee to the Trust Account to have the Trust Account funds disbursed to the Company, and there shall be no actions, suits, proceedings, arbitrations or mediations pending or threatened by any person (not including Tevogen Bio and its affiliates) with respect to or against the Trust Account that would reasonably be expected to have a material adverse effect on the Company; and (vi) at least one day prior to closing, the Company shall have delivered to Tevogen Bio a written consent of the board of directors of the Company (or a duly appointed committee thereof authorized to administer the equity incentive plan), authorizing and approving the grant of awards of restricted stock units under the equity incentive plan shares of Common Stock to certain individuals that were executives, employees or individual service providers of Tevogen Bio as of immediately prior to the closing of the Transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finally, unless waived by the Company, the obligations of the Company to consummate the Transaction are subject to the satisfaction of the following additional Closing conditions, in addition to the delivery by the Company of certain related agreements, customary certificates and other closing deliverables: (i) the representations and warranties of Tevogen Bio being true and correct as of the date of the Merger Agreement and as of the closing (subject to customary exceptions, including materiality qualifiers); (ii) Tevogen Bio having performed in all material respects their respective obligations and complied in all material respects with their respective covenants and agreements under the Merger Agreement required to be performed or complied with by them on or prior to the date of the closing; and (iii) absence of any material adverse effect with respect to Tevogen Bio and its subsidiaries on a consolidated basis since the date of the Merger Agreement which is continuing and uncured.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 14, 2023, the Company filed a registration statement on Form S-4 with the SEC relating to the Transaction with Tevogen.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Risks and Uncertainties</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The escalation in October 2023 of the conflict between Israel and Hamas also could cause disruptions to global economic conditions and effect the stability of the Middle East region. It is unknown how long any of these disruptions will continue and whether such disruptions will become more severe.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The impact of these conflicts on the world economy is not determinable as of the date of these financial statements and the specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these condensed financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity and Going Concern</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2023, the Company had $<span id="xdx_908_eus-gaap--Cash_iI_c20230930_z0Er70jWWLS8" title="Cash">347,546</span> in its operating bank accounts, $<span id="xdx_903_eus-gaap--AssetsHeldInTrustNoncurrent_iI_c20230930_zmQmcaIYgkkl" title="Assets held in trust noncurrent">26,010,413</span> in cash and marketable securities held in the Trust Account to be used for a Business Combination or to repurchase or redeem its ordinary shares in connection therewith and working capital deficit of $<span id="xdx_90C_ecustom--WorkingCapitalDeficit_iI_c20230930_zellfX9U3OW8" title="Working capital deficit">1,427,256</span>. As of September 30, 2023, approximately $<span id="xdx_90F_eus-gaap--InvestmentIncomeInterest_pn5n6_c20230101__20230930_zy5TVF83Yu8k">2.4</span> million of the amount on deposit in the Trust Account represented interest income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until the consummation of a Business Combination, the Company will be using the funds not held in the Trust Account for identifying and evaluating prospective acquisition candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to acquire, and structuring, negotiating and consummating the Business Combination. The Company will need to raise additional capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third parties. The Company’s officers, directors and Sponsor may, but are not obligated to, loan the Company funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. Accordingly, the Company may not be able to obtain additional financing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management has also determined that the mandatory liquidation and subsequent dissolution described in the financial statements, should the Company be unable to complete a business combination, raises substantial doubt about the Company’s ability to continue as a going concern. The Company has until December 15, 2023 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by the specified period. If a Business Combination is not consummated by December 15, 2023, there will be a mandatory liquidation and subsequent dissolution, or the Company may seek approval from the Company’s shareholders to amend the Company’s Memorandum and Articles of Association to extend the Combination Period. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	LGST	Condition For Future Business Combination Number Of Businesses Minimum ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum	1	integer
CY2023Q3	LGST	Condition For Future Business Combination Use Of Proceeds Percentage ConditionForFutureBusinessCombinationUseOfProceedsPercentage	0.80	pure
CY2023Q3	LGST	Condition For Future Business Combination Threshold Percentage Ownership ConditionForFutureBusinessCombinationThresholdPercentageOwnership	0.50	pure
CY2023Q3	LGST	Condition For Future Business Combination Threshold Net Tangible Assets ConditionForFutureBusinessCombinationThresholdNetTangibleAssets	5000001	usd
CY2023Q1	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	1	pure
CY2023Q1	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	25000000	usd
CY2023Q1	LGST	Past Fee Due Balance PastFeeDueBalance	151000	usd
CY2023Q2	LGST	Nasdaq Written Notice Description NasdaqWrittenNoticeDescription	On April 4, 2023, the Company received a written notice (the “April Notice”) from Nasdaq indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(A), requiring the Company to maintain a Market Value of Listed Securities (“MVLS”) of $50,000,000 for the continued listing of its securities on The Nasdaq Global Market. The April Notice was only a notification of deficiency, not of imminent delisting, and had no then-current effect on the listing or trading of the Company’s securities on Nasdaq when issued. The April Notice stated that the Company has 180 calendar days, or until October 2, 2023, to regain compliance with Listing Rule 5450(b)(2)(A). On September 28, 2023, the Company received notice from Nasdaq that it had regained compliance with Listing Rule 5450(b)(2)(A) regarding the MVLS requirement.
	LGST	Redemption Limit Percentage Without Prior Consent RedemptionLimitPercentageWithoutPriorConsent	0.15	pure
	LGST	Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination	1	pure
	LGST	Maximum Allowed Dissolution Expenses MaximumAllowedDissolutionExpenses	100000	usd
CY2023Q3	LGST	Condition For Future Business Combination Threshold Net Tangible Assets ConditionForFutureBusinessCombinationThresholdNetTangibleAssets	5000001	usd
CY2023Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	25000000	usd
CY2023Q3	us-gaap	Cash Cash	347546	usd
CY2023Q3	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	26010413	usd
CY2023Q3	LGST	Working Capital Deficit WorkingCapitalDeficit	1427256	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	2400000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84C_eus-gaap--UseOfEstimates_z6ikgDUIIjw5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86B_zplCG2P1bTIb">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements. Making estimates requires management to exercise significant judgment. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2022Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2023Q3	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	26010413	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zJ2gDUBa5D9j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zgpvr5iLWhfe">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_c20230930_zbB3XJuTksQf" title="Federal depository insurance coverage amount">250,000</span>. At September 30, 2023 and December 31, 2022, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	usd
CY2023Q3	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q3	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	usd
CY2022Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	usd
CY2021Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	351900000	usd
CY2022	us-gaap	Temporary Equity Accretion To Redemption Value TemporaryEquityAccretionToRedemptionValue	4964000	usd
CY2022Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	356864000	usd
	LGST	Temporary Equity Redemption Amount TemporaryEquityRedemptionAmount	-333270649	usd
	us-gaap	Temporary Equity Accretion To Redemption Value TemporaryEquityAccretionToRedemptionValue	2417062	usd
CY2023Q1	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	1	pure
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions	0.0680	pure
CY2023Q2	LGST	Stock Price Of Measurement StockPriceOfMeasurement	10.77	shares
CY2023Q2	LGST	Probability Of Transaction Percentage ProbabilityOfTransactionPercentage	0.0440	pure
CY2023Q2	us-gaap	Proceeds From Other Equity ProceedsFromOtherEquity	46139	usd
CY2023Q2	us-gaap	Proceeds From Other Equity ProceedsFromOtherEquity	229167	usd
CY2023Q3	us-gaap	Notes Payable Current NotesPayableCurrent	625694	usd
CY2023Q3	LGST	Convertible Notes Payable Discounts ConvertibleNotesPayableDiscounts	275306	usd
	LGST	Underwriting Cash Discount Per Unit UnderwritingCashDiscountPerUnit	0.20
	LGST	Underwriting Cash Discount Per Unit UnderwritingCashDiscountPerUnit	0.20
	LGST	Aggregate Underwriter Cash Discount AggregateUnderwriterCashDiscount	900000	usd
CY2023Q3	LGST	Deferred Fee Per Unit DeferredFeePerUnit	0.40
	LGST	Aggregate Deferred Underwriting Fee Payable AggregateDeferredUnderwritingFeePayable	14700000	usd
	LGST	Deferred Underwriting Fee Payable DeferredUnderwritingFeePayable	13800000	usd
	LGST	Underwriter Cash Discount UnderwriterCashDiscount	900000	usd
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2023Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares

Files In Submission

Name	View Source	Status
lgst-20230930_def.xml	Edgar Link	unprocessable
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0001493152-23-040622-index.html	Edgar Link	pending
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ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
lgst-20230930.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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FilingSummary.xml	Edgar Link	unprocessable
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lgst-20230930_lab.xml	Edgar Link	unprocessable
lgst-20230930_pre.xml	Edgar Link	unprocessable
form10-q_htm.xml	Edgar Link	completed
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R2.htm	Edgar Link	pending
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R7.htm	Edgar Link	pending
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report.css	Edgar Link	pending
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$TVGN
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2023 Q3 Form 10-Q Financial Statement

#000149315223040622 Filed on November 13, 2023

Income Statement

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$TVGN Tevogen Bio Holdings Inc. Stock $tvgn

2023 Q3 Form 10-Q Financial Statement

#000149315223040622 Filed on November 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TVGN
Tevogen Bio Holdings Inc. Stock $tvgn