Kaival Brands executes 1-for-21 reverse stock split; director resigns

Kaival Brands Innovations Group, Inc.

Director James P. Cassidy resigned from Board on Jan 25, 2024, due to other professional commitments; no disagreement.
Company effected 1-for-21 reverse stock split on Jan 22, 2024; shares reduced from ~58.66M to ~2.79M.
Reverse split intended to meet Nasdaq $1.00 minimum bid price requirement for continued listing.
Common stock began trading on post-split basis under KAVL on Jan 25, 2024; new CUSIP 483104402.
Board plans to work with GoFire to fill vacancy created by Cassidy's resignation.

item 3.03 item 5.03 item 5.02 item 9.01

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Departed

James P. Cassidy

Director

KAVL · Kaival Brands Innovations Group, Inc.

Effective: 2024-01-25
Filed: January 26, 2024, 6:59 PM ET

On January 25, 2024, James P. Cassidy provided written notice to the board of directors (the “ Board ”) of Kaival Brands Innovations Group, Inc. (the “ Company ”) of his resignation from the Board, effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James P. Cassidy resigned as Director at Kaival Brands Innovations Group, Inc..

Action: resigned
Role: Director

Exact text from the filing

On January 25, 2024, James P. Cassidy provided written notice to the board of directors (the “ Board ”) of Kaival Brands Innovations Group, Inc. (the “ Company ”) of his resignation from the Board, effective immediately.

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Kaival Brands Innovations Group, Inc. filing history →

Source: SEC EDGAR

accession 0001731122-24-000169

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