Tevogen Bio Inc. and Semper Paratus Acquisition Corporation Announce Effectiveness of Registration Statement for Business Combination The pro forma equity value of the portion of the combined company attributable to Tevo

Bio Inc. and Semper Paratus Acquisition Corporation Announce Effectiveness of Registration

Statement for Business Combination

York, NY, January 5, 2024 (GLOBE NEWSWIRE) - Tevogen Bio Inc ("Tevogen Bio"), an advanced-stage specialty immunotherapy

biotech pioneer and Semper Paratus Acquisition Corporation ("Semper Paratus") (Nasdaq: LGST, LGSTW), a publicly-traded special

purpose acquisition company, today announced that the Securities and Exchange Commission ("SEC") has declared effective the

registration statement on Form S-4 (the "Registration Statement") filed by Semper Paratus in connection with Tevogen Bio

and Semper Paratus's previously announced proposed business combination (the "Business Combination" or the "Transaction").

Paratus will hold an extraordinary general meeting of its stockholders (the "Special Meeting") at which shareholders will

be asked to consider and vote upon proposals to approve the Business Combination and related matters. The Business Combination is expected

to close shortly after the Special Meeting, subject to shareholder approvals and the satisfaction or waiver of the conditions in the

business combination agreement and other customary closing conditions. Upon closing of the Business Combination, the post-closing combined

company will be renamed Tevogen Bio Holdings Inc.

Saadi, Chief Executive Officer of Tevogen Bio, commented, "We believe Tevogen's patient-centric approach, which merges a

focus on affordability with advanced science, is a blueprint for sustainable success in the current era of healthcare. I am pleased that,

upon the closure of this transaction, investors will have the opportunity to participate in Tevogen's mission to become the very

first life science company offering commercially attractive and affordable personalized T cell therapies for large patient populations

in virology, oncology, and neurology."

Ajjarapu, Chief Executive Officer of Semper Paratus, added, "Since its inception, Tevogen's achievements have underscored

the potential of its disruptive business model to achieve a shorter path to revenue compared to the industry average. With the receipt

of notice from the SEC confirming the effectiveness of our registration statement, we are excited to have cleared a key milestone for

the Transaction, which will see Tevogen become a publicly traded company with the opportunity to realize its full potential and enhance

value for our stockholders."

Bio and Semper Paratus previously announced, on June 29, 2023, their execution of a definitive business combination agreement. The pro

forma equity value of the portion of the combined company attributable to Tevogen stockholders is an expected $1.2 billion.

Bio is a clinical-stage specialty immunotherapy company harnessing one of nature's most powerful immunological weapons, CD8+ cytotoxic

T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases,

cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen Leadership believes

that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science

and innovative business models. Tevogen has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual

property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted

patents and twelve pending patents, two of which are related to artificial intelligence.

Bio is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product

launch experience. Tevogen Bio's leadership believes that accessible personalized therapeutics are the next frontier of medicine,

and that disruptive business models are required to sustain medical innovation.

Paratus is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,

stock purchase, reorganization, or similar business combination with one or more businesses. Its principals possess public and private

market investing experience and operational knowledge to bring value added benefits to Tevogen Bio. The Semper Paratus team has substantial

experience investing in and operating businesses in multiple sectors, as well as a significant long-term track record in creatively structuring

transactions to unlock and maximize value.

press release contains certain statements that are not historical facts and are forward-looking statements within the meaning of the

federal securities laws with respect to the Transaction between Semper Paratus and Tevogen Bio, including without limitation statements

regarding the anticipated benefits of the Transaction, the anticipated timing of the Transaction, the implied enterprise value, future

financial condition and performance of Tevogen Bio and the combined company after the closing and expected financial impacts of the Transaction,

the satisfaction of closing conditions to the Transaction, the level of redemptions of Semper Paratus' public shareholders and

the product candidates, products, markets, and expected future performance and market opportunities of Tevogen Bio. These forward-looking

statements generally are identified by the words "believe," "project," "expect," "anticipate,"

"estimate," "intend," "think," "strategy," "future," "opportunity,"

"potential," "plan," "seeks," "may," "should," "will," "would,"

"will be," "will continue," "will likely result," and similar expressions, but the absence of these

words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements

about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as,

a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult

or impossible to predict and will differ from assumptions. Many factors could cause actual future events to differ materially from the

forward-looking statements in this communication, including but not limited to: (i) the risk that the Transaction may not be completed

by Semper Paratus' business combination deadline, otherwise in a timely manner, or at all, which may adversely affect the price

of Semper Paratus' securities; (ii) the failure to satisfy the conditions to the consummation of the Transaction, including the

approval of the Merger Agreement by the shareholders of Semper Paratus, the satisfaction of the minimum cash at closing requirements,

including as a result of any redemptions by Semper Paratus' shareholders, and the receipt of certain governmental, regulatory and

third party approvals; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the

Merger Agreement; (iv) redemptions exceeding anticipated levels or the failure to meet stock exchange listing standards

in connection with the consummation of the Transaction; (v) the effect of the announcement or pendency of the Transaction on Tevogen

Bio's business relationships, operating results, and business generally; (vi) risks that the Transaction disrupts current plans

and operations of Tevogen Bio; (vii) the outcome of any legal proceedings that may be instituted against Tevogen Bio or against Semper

Paratus related to the Merger Agreement or the Transaction ; (viii) changes in the markets in which Tevogen Bio competes, including with

respect to its competitive landscape, technology evolution, or regulatory changes; (ix) changes in domestic and global general economic

conditions; (x) the risk that Tevogen Bio may not be able to execute its growth strategies, or may experience difficulties in managing

its growth and expanding operations; (xi) risks related to the COVID-19 pandemic and response, including supply chain disruptions; (xii)

the risk that Tevogen Bio may not be able to develop and maintain effective internal controls; (xiii) costs related to the Transaction

and the failure to realize anticipated benefits of the Transaction or to realize estimated pro forma results and underlying assumptions,

including with respect to estimated shareholders redemptions; (xiv) the failure to recognize the anticipated benefits of the Transaction

and to achieve Tevogen Bio's commercialization and development plans, and identify and realize additional opportunities, which

may be affected by, among other things, competition, the ability of Tevogen Bio to grow and manage growth economically and hire and retain

key employees; (xv) the risk that Tevogen Bio may fail to keep pace with rapid technological developments to provide new and innovative

products and services or make substantial investments in unsuccessful new products and services; (xvi) risks related to the ability to

develop, license or acquire new therapeutics; (xvii) the risk that Tevogen Bio will need to raise additional capital to execute its business

plan, which may not be available on acceptable terms or at all; (xviii) the risk of product liability or regulatory lawsuits or proceedings

relating to Tevogen Bio's business; (xix) uncertainties inherent in the execution, cost, and completion of preclinical studies

and clinical trials; (xx) risks related to regulatory review, and approval and commercial development; (xxi) risks associated with intellectual

property protection; (xxii) Tevogen Bio's limited operating history; and (xxiii) those factors discussed in Semper Paratus'

filings with the SEC and that that are contained in the preliminary proxy statement/prospectus relating to the Transaction.

foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties

that are or will be described in the "Risk Factors" section of the preliminary proxy statement/prospectus and the amendments

thereto, the definitive proxy statement/prospectus, and other documents to be filed by Semper Paratus from time to time with the SEC.

These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially

from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are

cautioned not to put undue reliance on forward-looking statements, and while Tevogen Bio and Semper Paratus may elect to update these

forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements,

whether as a result of new information, future events or otherwise, except as required by applicable law. Neither of Tevogen Bio or Semper

Paratus gives any assurance that Tevogen Bio or Semper Paratus, or the combined company, will achieve its expectations. These forward-looking

statements should not be relied upon as representing Semper Paratus' or Tevogen Bio's assessments as of any date subsequent

to the date of this press release.

Information and Where to Find It

connection with the Merger Agreement and the Transaction, Semper Paratus has filed relevant materials with the SEC, including a registration

statement on Form S-4 (the "Form S-4"), which includes a preliminary proxy statement/prospectus of Semper Paratus, and will

file other documents regarding the Transaction with the SEC. This communication is not intended to be, and is not, a substitute for the

proxy statement/prospectus or any other document that Semper Paratus has filed or may file with the SEC in connection with the Transaction.

Semper Paratus shareholders and other interested persons are advised to read the Form S-4, the preliminary proxy statement/prospectus

and the amendments thereto, the definitive proxy statement/prospectus, when it becomes available, and documents incorporated by reference