secwatch.observer — SEC 8-K summary
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Issuer:     Axil Brands, Inc. (AXIL)
CIK:        0001718500
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001520138-22-000504
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reviv3 amends voting agreement to exempt private placements and offerings up to $50M from issuance restrictions
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- Amendment effective Nov 7, 2022 modifies definition of "New Securities" in the Voting Agreement.
- New exemptions include private placements exempt from registration and securities offerings up to $50M per offering.
- Approval from Intrepid and Axil no longer required for such issuances as long as Axil holds majority of Preferred Shares.
- Jeff Toghraie, Reviv3 CEO, also serves as Managing Director of Intrepid, a party to the agreement.
- The amendment is effective immediately and governed by Delaware law.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000504/0001520138-22-000504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000504/rviv-20221109_8k.htm
  HTML page:      https://secwatch.observer/filing/0001520138-22-000504

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