Kaival Brands extends marketing deal; cuts monthly fee to $125K, grants options

Kaival Brands Innovations Group, Inc.

Three-year extension through Oct 2025 with automatic renewals; QuikfillRx rebranded as Kaival Marketing Services.
Monthly cash fee reduced from $150K to $125K; one-time vested option for 250K shares at $0.9869.
Performance-based options for up to 3M shares vesting on net revenue/profit margins; max vesting at $180M revenue.
Company cites Bidi Vapor merits case win as catalyst for anticipated sales increase and prepares for growth.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kaival Brands Innovations Group, Inc. amended Fourth Amendment to Service Agreement with QuikfillRx, LLC (effective 2022-11-09).

Action: amendment
Counterparty: QuikfillRx, LLC
Effective: 2022-11-09

Exact text from the filing

On November 9, 2022, Kai val Brands Innovations Group, Inc., a Delaware corporation (the “Company”), entered into a Fourth Amendment to Service Agreement (the “Amendment”) with QuikfillRx, LLC (“QuikfillRx”), the third party vendor responsible for executing the Company’s marketing and sales strategies.

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197 material agreements filed in the last 30 days. Browse all material agreements →

Kaival Brands Innovations Group, Inc. filing history →

Source: SEC EDGAR

accession 0001731122-22-001986

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