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Kaival Brands Innovations | 424B1: Prospectus

SEC announcement ·  Jan 12 00:00
Summary by Moomoo AI
Kaival Brands Innovations Group, Inc. (Kaival Brands) has filed a prospectus with the SEC for the distribution of 1,800,000 shares of common stock and 1,800,000 warrants to purchase common stock, as well as the registration of 1,800,000 shares of common stock underlying the warrants. This move follows the acquisition of intellectual property assets from GoFire, Inc. (GoFire) on May 30, 2023, which included patents and trademarks related to vaporization and inhalation technologies. As part of the acquisition agreement, Kaival Brands issued equity securities to GoFire, which are now being distributed to GoFire's shareholders. The distribution does not involve a public offering, and GoFire is acting as a statutory 'underwriter' for the transaction. The warrants have a four-year term ending May 30, 2027, with an exercise...Show More
Kaival Brands Innovations Group, Inc. (Kaival Brands) has filed a prospectus with the SEC for the distribution of 1,800,000 shares of common stock and 1,800,000 warrants to purchase common stock, as well as the registration of 1,800,000 shares of common stock underlying the warrants. This move follows the acquisition of intellectual property assets from GoFire, Inc. (GoFire) on May 30, 2023, which included patents and trademarks related to vaporization and inhalation technologies. As part of the acquisition agreement, Kaival Brands issued equity securities to GoFire, which are now being distributed to GoFire's shareholders. The distribution does not involve a public offering, and GoFire is acting as a statutory 'underwriter' for the transaction. The warrants have a four-year term ending May 30, 2027, with an exercise price ranging from $3.00 to $6.00 per share. Kaival Brands does not expect a public market to develop for the warrants and does not plan to establish one. The distribution of these securities is part of Kaival Brands' strategy to diversify its product offerings and create new revenue opportunities through licensing and product development based on the acquired GoFire assets.

This announcement is a separate document:

Doc 1

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