Kaival Brnds Innovatns Grp Inc - KAVL STOCK NEWS

Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) and Delta Corp Holdings have jointly announced the confidential submission of a draft registration statement on Form F-4 to the SEC. This submission is part of their previously announced Merger and Share Exchange Agreement, where Kaival and Delta will become wholly owned subsidiaries of a new publicly listed holding company, Delta Corp Holdings (Pubco).

The closing of the transaction is subject to Kaival's stockholder approval and Nasdaq's approval for listing Pubco's ordinary shares. A definitive proxy statement/prospectus will be mailed to Kaival stockholders once the Registration Statement is declared effective by the SEC. The companies urge investors and security holders to read the forthcoming documents carefully for important information about the proposed business combination.

Delta Corp Holdings , a fast-growing asset-light logistics company, has entered into a definitive merger agreement with Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL). The proposed business combination will create a public company engaged in Bulk & Energy logistics, fuel supply, commodities, and asset management services. Key points include:

- Delta reported revenue of over $619 million for fiscal year 2023
- Transaction to be completed at a 359% premium to Kaival Brands' current stock price
- Implied price per share of $2.66
- Expected closing in Q4 2024
- Delta shareholders to become majority owners with 89.70% stake
- Kaival Brands shareholders to retain 10.30% ownership
- Combined company to be traded on Nasdaq

The merger aims to capitalize on high-growth areas within energy and raw materials markets, offering Kaival Brands shareholders a unique opportunity for value creation.

Kaival Brands announced the closing of a public offering of 3,921,500 units at $1.53 per unit, raising approximately $6.0 million in gross proceeds. Each unit includes one share of common stock and one and a half common warrants, exercisable at $1.53 per share and expiring in five years. Maxim Group acted as the sole placement agent. The net proceeds will fund general corporate purposes, working capital, and business expansion. The registration statements were declared effective by the SEC on June 21, 2024. This announcement does not constitute an offer or solicitation in any jurisdiction where such actions are unlawful.

Kaival Brands announced the pricing of a $6.0 million public offering of 3,921,500 units at $1.53 per unit. Each unit consists of one share of common stock or a pre-funded warrant and one-and-a-half common warrants, exercisable at $1.53 per share and expiring five years from issuance. Gross proceeds are expected to be $6.0 million before fees and expenses. Maxim Group is the sole placement agent. Proceeds will be used for general corporate and working capital purposes and business expansion. The offering is expected to close around June 24, 2024, subject to customary conditions.

A registration statement on Form S-1 was declared effective by the SEC on June 21, 2024. A final prospectus will be available on the SEC's website. This announcement does not constitute an offer to sell or solicit an offer to buy these securities in any state or jurisdiction where it is unlawful.

Kaival Brands Innovations Group, Inc. announces financial results for Q1 2024, highlights reduced net inventories, appoints new CEO and CFO, engages Maxim Group to explore strategic alternatives. Revenues increased to $3.2 million, with gross profit at 37.3%. Operating expenses decreased to $2.9 million. Net loss reduced to $2.2 million.

Kaival Brands Innovations Group, Inc. provided a business update highlighting revenue growth, cost management, and strategic initiatives. Despite regulatory challenges, the company reported increased revenues, gross profit, and decreased net loss for fiscal year 2023. The company aims to maximize core business, improve financial management, and drive product innovation for growth and diversification. Bidi Vapor is contesting FDA denial of 'Classic' tobacco-flavored ENDS and pursuing new revenue opportunities. The company acquired a patent portfolio for vaporization and inhalation technologies, aiming to create innovative products and generate revenue. International distribution with PMPSA and operational improvements for scale and diversification are key focus areas for Kaival Brands.

Kaival Brands Innovations Group, Inc. announced that its licensor and commercial partner, Bidi Vapor LLC, will appeal the U.S. Food and Drug Administration’s decision to deny Bidi Vapor’s premarket tobacco product application for the 'Classic' tobacco-flavored BIDI Stick ENDS device. Despite the denial, ten non-tobacco flavored products are still under FDA review and available for sale through Kaival Brands. Bidi Vapor has a history of successful outcomes when contesting adverse FDA decisions, and Kaival Brands remains focused on driving revenue and platform diversification.

Kaival Brands Innovations Group, Inc. has announced a 1-for-21 reverse stock split, effective January 25, 2024. The split will reduce the outstanding common stock from 58,661,090 shares to approximately 2,793,386 shares. The goal is to maintain compliance with the Nasdaq Capital Market's minimum bid price requirement and attract institutional investors.

Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) announces the expansion of Barry M. Hopkins' role to include the positions of Interim Chief Executive Officer & President. The former CEO has been appointed as CEO & President of Kaival Brands International, the subsidiary with a licensing relationship with Philip Morris. The company is hopeful for FDA's review of the pending Premarket Tobacco Product Application for the BIDI Stick Classic, as it anticipates significant growth if granted. Barry Hopkins, a 40-year tobacco industry veteran, will lead the company's strategic growth and diversification initiatives.