Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 595

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 4
Chunk 595
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,500 Common Units to additional investors, who did not enter into the Purchase Agreement, under
the same terms sold to Purchasers. The sale of securities by the Company pursuant to the Purchase Agreement combined with the concurrent
sale of securities to additional investors is referred to herein as the “June 2024 Public Offering’. The aggregate gross proceeds
to the Company from the June 2024 Public Offering were approximately $5,997,720, before deducting
placement agent fees and expenses and other transaction costs of $744,993. Of the total gross
proceeds, $2,672,145 and $3,325,575 were allocated
to the common stock and the pre-funded warrants, respectively.

    F-21

See further Common Warrants and Pre-Funded Warrants
details below.

Stock Options

Summary of stock options information is as follows:

Schedule of stock options information

Average

Aggregate Number
 
Aggregate   Exercise Price
 
Exercise Price Range
 
Exercise 
Price

Outstanding, October 31, 2022

152,489

$
8,921,429

$
21.63-602.28

$
58.50

Granted

300,188

5,314,460

10.08-20.72

17.66

Exercised

—

—

—

—

 Cancelled, forfeited, or expired

(3,571
)

(154,481
)

43.26

43.26

Outstanding, October 31, 2023

449,106

$
14,081,408

$
10.08-602.28

$
31.36

Granted

104,693

529,899

2.81-11.76

5.06

Exercised

—

—

—

—

Cancelled, forfeited, or expired

(364,209
)

(7,763,571
)

2.81-545.58

15.75

Outstanding, October 31, 2024

189,590

$
6,847,736

$
3.64-602.28

36.12

Exercisable, October 31, 2024

170,280

$
6,643,041

$
3.64-602.28

$
39.01

During the years ended October 31, 2024, and 2023,
the Company recognized $108,234 and $3,168,430, respectively of stock option expense related to