Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 410

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 410
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 Company separated from the Former Parent, Vinco
Ventures Inc. (“Vinco”). As previously announced, we concluded a spin-off from Vinco in May 2022 (the “Separation”).
Following the Separation, we are an independent, publicly traded company, and Vinco retains no ownership interest in our Company.

In connection with the Separation, we entered into a Separation and
Distribution Agreement and other agreements with Vinco to effect the Separation and provide a framework for our relationship with Vinco
after the Separation. These agreements provide for the allocation between us and our subsidiaries, on the one hand, and Vinco and its
subsidiaries, on the other hand, of the assets, liabilities, legal entities, and obligations associated with the Eightco Businesses, on
the one hand, and Vinco’s other current businesses, on the other hand, and govern the relationship between our Company and our subsidiaries,
on the one hand, and Vinco and its subsidiaries, on the other hand, following the Separation. In addition to the Separation and Distribution
Agreement, the other principal agreements entered into with Vinco include a Tax Matters Agreement and certain commercial agreements.

26

Financings and Forever 8 Acquisition

Financings

February
2024 Private Placement

On
February 26, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase
Agreement”) with certain investors (the “Investors”), pursuant to which the Company sold to the Investors an aggregate
of 865,856 shares (the “Shares”) of the Company’s common stock at a purchase price of $0.82 per Share (the “Private
Placement”). The Company received aggregate gross proceeds from the Private Placement of approximately $0.71 million. The Shares
are being offered and sold in reliance on the exemption from registration under the Securities Act of 1933, as amended, provided by Section
4(a)(2) and Regulation D promulgated thereunder for transactions not involving a public offering.

The
Purchase Agreement contains representations and warranties of the Company and the Investors that are typical for transactions of this
type. The Purchase Agreement also contains covenants on the part of the Company that are typical for transactions of this type.

Series
A Financing

On
May 30, 2023, Forever 8 (the “Borrower”) entered into a Loan and
Security Agreement (the “Agreement”) with several individuals, financial institutions and entities