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 29, 2024. The filing pertains to the offering of up to 3,012,048 units, each consisting of one share of common stock and one and one-half common warrants to purchase additional shares. Additionally, the company is offering up to 3,012,048 pre-funded units, which include pre-funded warrants to purchase shares of common stock and common warrants. The offering also includes up to 4,518,072 shares of common stock underlying the pre-funded warrants and common warrants. The units and pre-funded units are being offered at an assumed price of $1.66 per unit, which is equal to the closing...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 29, 2024. The filing pertains to the offering of up to 3,012,048 units, each consisting of one share of common stock and one and one-half common warrants to purchase additional shares. Additionally, the company is offering up to 3,012,048 pre-funded units, which include pre-funded warrants to purchase shares of common stock and common warrants. The offering also includes up to 4,518,072 shares of common stock underlying the pre-funded warrants and common warrants. The units and pre-funded units are being offered at an assumed price of $1.66 per unit, which is equal to the closing price of Kaival Brands' common stock on the Nasdaq Stock Market LLC on May 28, 2024. The offering is on a best-efforts basis with Maxim Group LLC acting as the exclusive placement agent. The company intends to use the net proceeds for general corporate purposes, working capital, and to fund ongoing operations and expansion. The common stock is listed on the Nasdaq under the symbol 'KAVL'. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed.