Kaival Brands Innovations Group, Inc. (Kaival Brands) has filed an amendment to its FORM S-1/A registration statement with the Securities and Exchange Commission (SEC) on May 14, 2024. The filing pertains to the offering of up to 1,340,482 units, each consisting of one share of common stock and one common warrant to purchase additional shares. The offering also includes up to 1,340,482 pre-funded units, each comprising one pre-funded warrant and one common warrant. The pre-funded warrants are aimed at purchasers who would otherwise exceed ownership thresholds post-transaction. The units are being offered at an assumed price of $3.73 per unit, based on the closing price of Kaival Brands' common stock on the Nasdaq Stock Market on May 9, 2024. The offering is...Show More

Kaival Brands Innovations Group, Inc. (Kaival Brands) has filed an amendment to its FORM S-1/A registration statement with the Securities and Exchange Commission (SEC) on May 14, 2024. The filing pertains to the offering of up to 1,340,482 units, each consisting of one share of common stock and one common warrant to purchase additional shares. The offering also includes up to 1,340,482 pre-funded units, each comprising one pre-funded warrant and one common warrant. The pre-funded warrants are aimed at purchasers who would otherwise exceed ownership thresholds post-transaction. The units are being offered at an assumed price of $3.73 per unit, based on the closing price of Kaival Brands' common stock on the Nasdaq Stock Market on May 9, 2024. The offering is on a best-efforts basis with no minimum proceeds requirement for closing. Kaival Brands has engaged Maxim Group LLC as the exclusive placement agent for the offering. The proceeds are intended for general corporate purposes, working capital, and to support ongoing operations and business expansion. The offering follows the company's recent activities, including the acquisition of intellectual property from GoFire Inc. in May 2023 and the issuance of Series B Convertible Preferred Stock as consideration for the acquisition. The company's common stock is listed on the Nasdaq under the symbol 'KAVL'.