Company: KAVL
Filing Date: 2025-08-18
Form Type: 424B5
Source: 0001731122-25-001141
Chunk: 22

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-08-18
Form: 424B5
Chunk 22
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5,754,686 shares of our common stock issuable upon the exercise of warrants outstanding, at a weighted average exercise price of $3.45 per share. |
| ● | 99,732,179 shares of our common stock reserved for future issuance under our Amended and Restated 2020 Stock and Incentive Compensation Plan      |

To the extent that any outstanding
options are exercised, new options or shares of restricted stock are issued under our equity incentive plans, or we otherwise issue additional
shares of common stock in the future, at a price less than the public offering price, there will be further dilution to the investors.
In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have
sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity
or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders.

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PLAN OF DISTRIBUTION</div>

We have entered into the Sales Agreement with Maxim
pursuant to which we may issue and sell our common stock from time to time through Maxim acting as sales agent, subject to certain limitations,
pursuant to this prospectus supplement and the accompanying base prospectus. Maxim is not purchasing or selling any of the shares of our
common stock offered by this prospectus supplement, nor is it required to arrange the purchase or sale of any specific number or dollar
amount of shares of our common stock offered hereby.

Upon delivery of a transaction notice and subject
to the terms and conditions of the Sales Agreement, the sales agent may sell shares of our common stock by any method permitted by law
that is deemed an “at the market offering” as defined in Rule 415 promulgated under the Securities Act, including sales made
directly on or through the Nasdaq Stock Market or any other existing trading market in the United States for our common stock, sales made
to or through a market maker other than on an exchange or otherwise in negotiated transactions at market prices prevailing at the time
of sale or at prices related to such prevailing market prices and/or in any other method permitted by law, including in privately negotiated
transactions.

Each time we wish to issue and sell common stock under
the Sales Agreement, we will notify Maxim of the number of shares to be issued, the dates on which such sales are anticipated to be made,
any minimum price below which sales may not be