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Kaival Brands Innovations | 8-K: Current report

Kaival Brands Innovations | 8-K: Current report

Kaival Brands Innovations | 8-K：重大事件
美股SEC公告 ·  2024/09/28 05:19

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Kaival Brands Innovations Group has entered into a definitive merger agreement with Delta Corp Holdings Limited on September 23, 2024, in a deal valuing the combined entity at $301 million. Upon completion, both companies will become wholly-owned subsidiaries of a new Cayman Islands-based public company, with Delta shareholders owning 90% and Kaival shareholders holding 10% of the combined entity.The transaction includes potential additional earnout of $30 million in shares for Delta shareholders based on fiscal 2025 performance metrics. The merged company's board will comprise one Kaival-designated director and up to six Delta-designated directors, with Delta's existing CEO and CFO maintaining their positions post-merger.The deal is subject to customary closing conditions, including shareholder approval, regulatory clearances, and Nasdaq listing approval. The transaction is expected to close by February 15, 2025. A termination fee of $1.3 million plus expenses up to $1 million applies if Kaival accepts a superior offer, while a $750,000 fee plus expenses applies for willful breach by either party.
Kaival Brands Innovations Group has entered into a definitive merger agreement with Delta Corp Holdings Limited on September 23, 2024, in a deal valuing the combined entity at $301 million. Upon completion, both companies will become wholly-owned subsidiaries of a new Cayman Islands-based public company, with Delta shareholders owning 90% and Kaival shareholders holding 10% of the combined entity.The transaction includes potential additional earnout of $30 million in shares for Delta shareholders based on fiscal 2025 performance metrics. The merged company's board will comprise one Kaival-designated director and up to six Delta-designated directors, with Delta's existing CEO and CFO maintaining their positions post-merger.The deal is subject to customary closing conditions, including shareholder approval, regulatory clearances, and Nasdaq listing approval. The transaction is expected to close by February 15, 2025. A termination fee of $1.3 million plus expenses up to $1 million applies if Kaival accepts a superior offer, while a $750,000 fee plus expenses applies for willful breach by either party.
Kaival Brands Innovations Group於2024年9月23日與Delta CORP Holdings Limited達成了最終合併協議，交易價值將合併實體估值爲30100萬美元。完成後，兩家公司將成爲一家新的開曼群島上市公司的全資子公司，Delta 股東將擁有90%的股份，Kaival 股東將持有合併實體的10%。該交易還包括根據2025財年的業績指標，Delta股東可能獲得額外的3000萬美元股份獎勵。合併後的公司董事會將由一名Kaival指定的董事和最多六名Delta指定的董事組成，Delta現任CEO和CFO在合併後將繼續擔任相應職務。該交易需滿足傳統的成交條件，包括股東批准、監管批准和納斯達克上市批准。預計該交易將在2025年2月15日之前完成。如果Kaival接受了更優的報價，將需支付130萬美元的終止費及高達100萬美元的費用，而如果任一方故意違反協議，則需支付75萬美元的費用及相關費用。
Kaival Brands Innovations Group於2024年9月23日與Delta CORP Holdings Limited達成了最終合併協議，交易價值將合併實體估值爲30100萬美元。完成後，兩家公司將成爲一家新的開曼群島上市公司的全資子公司，Delta 股東將擁有90%的股份，Kaival 股東將持有合併實體的10%。該交易還包括根據2025財年的業績指標，Delta股東可能獲得額外的3000萬美元股份獎勵。合併後的公司董事會將由一名Kaival指定的董事和最多六名Delta指定的董事組成，Delta現任CEO和CFO在合併後將繼續擔任相應職務。該交易需滿足傳統的成交條件，包括股東批准、監管批准和納斯達克上市批准。預計該交易將在2025年2月15日之前完成。如果Kaival接受了更優的報價，將需支付130萬美元的終止費及高達100萬美元的費用，而如果任一方故意違反協議，則需支付75萬美元的費用及相關費用。
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