Company: ORBS
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012159
Chunk: 1

Company: Eightco Holdings Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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 Separation occurred concurrently with the distribution (the “Distribution”) of our common
stock to stockholders of Vinco as of May 18, 2022 (the “Record Date”) at a ratio of one share of our common stock for every
ten shares of Vinco common stock held by the Vinco stockholders. 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.

29

Recent
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