Kaival Brands Innovations Group, Inc. (Kaival Brands), a company specializing in the distribution of electronic nicotine delivery systems, has announced the filing of a Form S-1/A with the Securities and Exchange Commission (SEC) on June 18, 2024. The filing pertains to the registration of up to 838,926 units, each consisting of one share of common stock and one and one-half common warrants to purchase additional shares. Additionally, the registration includes up to 838,926 pre-funded units, each comprising one pre-funded warrant and one and one-half common warrants. The offering also relates to the shares of common stock issuable upon the exercise of the pre-funded warrants and common warrants included in the units. Kaival Brands has engaged Maxim Group LLC...Show More

Kaival Brands Innovations Group, Inc. (Kaival Brands), a company specializing in the distribution of electronic nicotine delivery systems, has announced the filing of a Form S-1/A with the Securities and Exchange Commission (SEC) on June 18, 2024. The filing pertains to the registration of up to 838,926 units, each consisting of one share of common stock and one and one-half common warrants to purchase additional shares. Additionally, the registration includes up to 838,926 pre-funded units, each comprising one pre-funded warrant and one and one-half common warrants. The offering also relates to the shares of common stock issuable upon the exercise of the pre-funded warrants and common warrants included in the units. Kaival Brands has engaged Maxim Group LLC as the exclusive placement agent for the offering, which is being conducted on a best-efforts basis with no minimum proceeds requirement. The offering price per unit is based on the closing price of Kaival Brands' common stock on the Nasdaq Stock Market LLC as of June 14, 2024. The company intends to use the net proceeds for general corporate purposes, working capital, and to support ongoing operations and business expansion.