Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 951

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 951
---
, and may be utilized to offset up to 80%
of taxable income in any future period.

19.
STOCKHOLDERS’ EQUITY

Common
Stock. Prior to the Separation, the Former Parent owned 100% of the issued and outstanding common stock of the Company.
Effective June 29, 2022, the Company separated from the Former Parent, and the distribution of its common
stock was completed.

On
March 16, 2023, the Company filed a Certificate of Amendment to the Company’s Certificate of Incorporation with the Secretary
of State of the State of Delaware to increase the number of authorized shares of the Company’s common stock from 250,000,000 to 500,000,000 and
to make a corresponding change to the number of authorized shares of capital stock, effective as of 4:05 p.m. (New York time) on
March 16, 2023.

    F-24

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

19.
STOCKHOLDERS’ EQUITY (continued)

ATM
Agreement

On
April 25, 2024, the Company entered into an At-The-Market Issuance Sales Agreement (the “ATM Agreement”) with Univest Securities,
LLC, as the sales agent (the “Agent”), pursuant to which the Company may offer and sell, from time to time through or to
the Agent, as sales agent or principal, shares of common stock having an aggregate offering price of up to $2,000,000. On September 25,
2024, the Company entered into an amendment to this agreement which increased the aggregate offering amount to $2,750,000.

The
Company will pay the Agent a commission of 3% of the aggregate gross sales prices of the shares of common stock under the ATM Agreement.
The Company will also reimburse the Agent for fees and disbursements of counsel to the Agent in an amount not to exceed $37,000 in connection
with the signing of the ATM Agreement.

The
Company intends to use the net proceeds from the sale of shares of common stock pursuant to the ATM Agreement for working capital and
general corporate purposes.

The
ATM Agreement may be terminated (i) by the Company at any time in its sole discretion by giving five days’ written notice to the