PETVIVO HOLDINGS, INC. ANNOUNCES CLOSE OF NOTE CONVERSION AGREEMENTS TO EXTINGUISH OVER TWO MILLION DOLLARS OF OUTSTANDING DEBT

Rhea-AI Summary

PetVivo Holdings (OTCQX: PETV) has successfully executed note conversion agreements with four existing shareholders, converting $2,018,155 of outstanding debt into 3,669,806 shares of common stock. The debt consisted of $1,850,000 in principal plus $168,155 in accrued interest, with conversion prices ranging from $0.50 to $0.75 per share.

The converted debt proceeds were used to commercialize the company's flagship products: SPRYNG® with OsteoCushion® Technology, an injectable veterinary device for joint pain management, and PrecisePRP®, an off-the-shelf platelet-rich plasma product for veterinary use. This debt elimination strengthens PetVivo's balance sheet and enables greater focus on strategic growth initiatives.

[ "Elimination of over $2 million in debt from balance sheet", "Successful conversion of debt to equity strengthens financial position", "No immediate cash outlay required for debt settlement", "Demonstrates shareholder confidence through willingness to convert debt to equity" ]

Positive

• None.

Negative

• Significant share dilution with 3,669,806 new shares issued
• Conversion prices ($0.50-$0.75) suggest relatively low valuation

MINNEAPOLIS, Sept. 30, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQX: PETV; OTCID: PETVW) and its wholly-owned subsidiary PetVivo Animal Health, Inc. (collectively "PetVivo" or the “Company”) an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for horses, dogs and other companion animals announced today that the Company has recently entered into note conversion agreements (“Conversion Agreements”) with four existing shareholders of the Company to convert the outstanding balances of fourteen promissory notes (“Notes”) having an aggregate debt outstanding of $2,018,155 consisting of principal amount of $1.850,000, plus total accrued interest of $168,155. The Notes converted into 3,669,806 shares of Company common stock (”Shares”) with the effective conversion prices of the Notes ranging from $0.50 to $0.75 per Share. All Notes were fully converted and cancelled upon the issuance of the Shares.

The proceeds from the Notes have been used to assist the Company in the commercialization of its signature products, SPRYNG^® with OsteoCushion^® Technology and Precise PRP^®. Spryng is an intra-articular injectable veterinary medical device consisting of sterilized, extra-cellular matrix microparticles. The microparticles of Spryng have been found to adsorb onto the joint synovial lining of animals and subsequently integrate with the animal’s subsynovial tissue. Such action promotes the restoration of proper joint mechanics, thereby aiding in the management of noninfectious sources of joint pain such as joint instability, degenerative joint disease and osteoarthritis.

PrecisePRP is a first-in-class off-the-shelf platelet-rich plasma (PRP) product designed for use by veterinarians. PrecisePRP is a leucoreduced, allogeneic, pooled, freeze-dried PRP intended to provide a species-specific source of concentrated platelets in plasma for intra-articular administration in dogs and horses. Unlike any PRP mechanical kits currently on the market, PrecisePRP^™ does not require a blood draw or centrifugation making it a truly off-the-shelf product that is easy and convenient. Perhaps more important is the uniformity and consistency that PrecisePRP^® guarantees. Each vial of PrecisePRP^® contains a consistent dose of 4 billion platelets per vial at a concentration of Five Hundred Thousand (500,000) platelets per microliter and is leucoreduced with less than One Thousand Five Hundred (1500) white blood cells per microliter.

“We are very pleased to have successfully completed this note conversion, which eliminates over $2 million of Company debt from our balance sheet,” said John Lai, Chief Executive Officer of PetVivo Holdings, Inc. “This important step strengthens our financial position and allows us to direct more resources toward advancing the commercialization of our innovative products, Spryng with OsteoCushion Technology and PrecisePRP. With a stronger balance sheet and growing market momentum, we are well-positioned to execute on our strategic growth initiatives.”

For more information about PetVivo Holdings, Inc. please contact info1@petvivo.com or visit https://petvivo.com/ and https://www.sprynghealth.com.

No Offer or Solicitation

Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any security. The shares issued pursuant to the Note Conversion Agreements (“Shares”) were offered and sold to persons reasonably believed to be qualified accredited investors pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Shares have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The issuance of restricted shares of the Company’s common stock upon conversion of the Promissory Notes are exempt from registration under Section 4(a)(2) of the Securities Act.

About PetVivo Holdings, Inc.

PetVivo Holdings Inc. (OTCQX: PETV; OTCID: PETVW) is an emerging biomedical device company currently focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The Company's strategy is to leverage human therapies for the treatment of companion animals in a capital and time efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics.

PetVivo has a robust pipeline of products for the treatment of animals and people. A portfolio of twelve patents and six trade secrets protect the Company's biomaterials, products, production processes and methods of use. The Company’s lead products SPRYNG with OsteoCushion technology, a veterinarian-administered, intra-articular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses, and PrecisePRP, a first-in-class, off-the-shelf, platelet-rich plasma (PRP) product designed for use by veterinarians, are currently available for commercial sale.

CONTACT:

John Lai, CEO
PetVivo Holdings, Inc.
Email: info1@petvivo.com
(952) 405-6216

Forward-Looking Statements:

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s proposed development and commercial timelines, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended March 31, 2025, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

How much debt did PetVivo Holdings (PETV) convert to equity in September 2025?

PetVivo converted $2,018,155 in total debt, comprising $1,850,000 in principal and $168,155 in accrued interest.

What was the conversion price for PETV's debt conversion?

The conversion prices ranged from $0.50 to $0.75 per share.

How many new shares did PetVivo (PETV) issue for the debt conversion?

PetVivo issued 3,669,806 new shares of common stock to convert the outstanding notes.

What will PetVivo use the converted debt proceeds for?

The proceeds were used to commercialize their signature products: SPRYNG® with OsteoCushion® Technology and PrecisePRP® for veterinary medical applications.

What are the main products of PetVivo Holdings (PETV)?

PetVivo's main products are SPRYNG®, an injectable veterinary device for joint pain management, and PrecisePRP®, an off-the-shelf platelet-rich plasma product for veterinary use.