secwatch.observer — SEC 8-K summary
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Issuer:     Axil Brands, Inc. (AXIL)
CIK:        0001718500
Form:       8-K
Filed at:   2022-06-22T23:59:59+00:00
Accession:  0001520138-22-000266
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.02, 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reviv3 completes acquisition of substantially all assets of AXIL & Associated Brands for $32.3M in stock
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- Purchase price: 73.2M common shares and 250M non-voting Series A Preferred shares, aggregate value $32.3M.
- Valuation reflects 25.9% discount to average closing price over 22-day period ended April 29, 2022.
- Preferred shares cannot be converted or transferred for two years; conversion capped at 5% ownership thereafter.
- Intrepid Global Advisors, whose managing director is CEO Jeff Toghraie, holds 22.33% of Reviv3 common stock.
- Acquisition excludes Axil's hearing aid line of business; Axil continues to operate that segment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000266/0001520138-22-000266-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000266/rviv-20220616_8k.htm
  HTML page:      https://secwatch.observer/filing/0001520138-22-000266

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