Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 687

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 5
Chunk 687
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     Granted 
     8,057,250  
     6,812,056  
      .001-1.16
                                              
     0.85 
  
     Exercised 
     (2,508,200) 
     (387,921) 
      .001-1.16
                                              
     0.15 
  
     Cancelled,
    forfeited, or expired 
     (36,912) 
     (544,025) 
      12.39-15.33
                                              
     14.74 
  
    Outstanding,
    October 31, 2024 
     5,754,686  
    $19,826,116  
    $1.16-126.00
                                              
    $3.45 
  
     Exercisable,
    October 31, 2024 
     5,754,686  
    $19,826,116  
    $ 1.16-126.00
                                              
    $3.45 

    F-22

The weighted average remaining contractual life is
approximately 4.56 years for Common Stock warrants outstanding as of October 31, 2024. As
of October 31, 2024, the intrinsic value of outstanding stock warrants was zero.

June 2024 Public Offering Warrants

The Company issued a common stock purchase warrant
to purchase an aggregate of 5,882,250 shares of Common Stock in connection with the June 2024 Public Offering with an initial exercise
price of $1.53 per share (equal to 100% of the public offering price of each unit sold in this offering). The warrant is exercisable immediately
and will expire five years from the date of issuance. However, if, on the date that is 30 calendar days immediately following the Closing
Date (the “Reset Date”), the Reset Price (as defined below) is less than the exercise price of the Common Warrants on the
Reset Date, then the exercise price of the Common Warrants shall be decreased to the Reset Price. “Reset Price” means 100%
of the arithmetic average of the daily VWAPs during the five trading days immediately preceding the Reset Date, provided, that in no event
shall the Reset Price be less than $0.574 per share (subject to adjustment for reverse and forward stock