Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 29

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 29
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ptyde, Inc. and its stock symbol to “OCTO.” The
Company is comprised of two main businesses, Forever 8’s Inventory Cash Flow Solution and the Corrugated Packaging Business of
Ferguson Containers. We acquired Forever 8 in October 2022 and it is focused on purchasing inventory and becoming the supplier for
e-commerce retailers. We no longer intend to generate revenue from our Web 3 Business. Our Corrugated Packaging Business
manufactures and sells custom packaging for a wide variety of products and through packaging helps customers generate brand
awareness and promote brand image.

On June 29, 2022, the 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