Company: KAVL
Filing Date: 2025-03-03
Form Type: DEF 14C
Source: 0001731122-25-000319
Chunk: 4

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-03-03
Form: DEF 14C
Chunk 4
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ar, LLC                |     |                        | 1,400,144 |     |                                     | 12.131 | % |
| Mark Thoenes                   |     |                        |   620,000 |     |                                     |    5.4 | % |
| Eric Morris                    |     |                        |   770,000 |     |                                     |    6.7 | % |
| David Worner                   |     |                        |   520,000 |     |                                     |    4.5 | % |
| Ashesh Modi                    |     |                        |   520,000 |     |                                     |    4.5 | % |
| Ketankumar Patel               |     |                        |   520,000 |     |                                     |    4.5 | % |
| Total Voting Power:            |     |                        | 5,919,658 |     |                                     |   51.3 | % |

*Based on 11,542,302 issued and outstanding shares of Common Stock as of February
25, 2025.

Material Terms of the Reverse Split

As of February 25, 2025 (the “Record Date”),
the Company has 11,542,302 issued and outstanding shares of Common Stock, which does not include shares of Common Stock reserved for issuance
underlying certain derivative securities. The Majority Consenting Stockholders own, in the aggregate, approximately 51.3% of the total
voting power of all issued and outstanding voting shares of the Company.

In the event that the Board of Directors implements
a reverse split at a ratio of any whole number within the range between one-for-two (1:2) and one-for-twenty (1:20), the maximum authorized
by the Written Consents, of which there can be no assurance, there will be approximately 1,154,230 shares of Common Stock issued and outstanding
if the ratio of one-for-ten (1:10) (the “Estimated Split Ratio”), which is the midpoint between the split ratio range of one-for-two
(1:2) and one-for-twenty (1:20), is used. The Board of Directors believes that the Reverse Split will affect all holders of shares of
Common Stock and holders of derivative securities equally. The Company believes that the Reverse Split will benefit all stockholders,
as without the Reverse Split, the Company in all likelihood will have difficulties maintaining compliance with the listing requirements
of Nasdaq.