Summary by Moomoo AI
Kaival Brands Innovations, a company registered in Delaware and listed on the Nasdaq Stock Market under the symbol KAVL, has reported several significant corporate events in a recent Form 8-K filing with the SEC. On January 22, 2024, the company executed a reverse stock split of its common stock at a ratio of 1-for-21, effective as of 8:00 a.m. EST on the same day. The reverse stock split, which reduced the number of outstanding shares from approximately 58.66 million to approximately 2.79 million, was initiated to comply with Nasdaq's minimum bid price requirement for continued listing. Trading on a post-split basis commenced on January 25, 2024. Additionally, the company announced the immediate resignation of James P. Cassidy from the Board of Directors on January...Show More