secwatch.observer — SEC 8-K summary
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Issuer:     Axil Brands, Inc. (AXIL)
CIK:        0001718500
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001520138-22-000187
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reviv3 Procare to acquire Axil & Associated Brands for ~$33M in stock, expanding into hearing protection
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- Purchase price of $33.3M via 73.2M common shares and 250M non-voting preferred shares convertible 1:1; 25.9% discount to 22-day VWAP.
- Acquired assets include ear plugs, ear muffs, and ear buds; Axil retains its hearing aid line.
- Closing requires shareholder approvals and a 5-to-1 reverse stock split within 90 days post-closing.
- Preferred shares subject to 2-year lock-up; no conversion or transfer during that period, with 5% beneficial ownership cap thereafter.
- Transaction approved by both boards; expected to close within 90 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000187/0001520138-22-000187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000187/rviv-20220505_8k.htm
  HTML page:      https://secwatch.observer/filing/0001520138-22-000187

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