Kaival Brands Innovations Group (NASDAQ: KAVL) Secures $6M in Public Offering, Stock Surges Watch VTAK, OCGN, DYAI, INBS

Kaival Brands Innovations Group Inc. (NASDAQ: KAVL), the exclusive U.S. distributor of BIDI Registered Stick and global distributor of VEEBA Registered through Philip Morris Products SA (NYSE: PM), announced a major milestone on June 24. The company successfully closed a public offering of 39,215,000 units at $1.53 each, raising approximately $6 million in capital.

Image: https://www.abnewswire.com/uploads/c435e64d5089b9ff4e37a7cf820f49d6.jpg

KAVL's stock surged 10.74% to $1.34 on Tuesday, with an additional 10.45% gain in the pre-market session.

Each unit consists of one share of Kaival Brands' common stock and one and a half common warrants. Each warrant allows the holder to purchase one and a half shares of common stock at an exercise price of $1.53 per share, immediately exercisable, and expiring in five years. The offering generated gross proceeds of approximately $6 million before deducting placement agent fees and other expenses. Maxim Group LLC acted as the sole placement agent. Kaival Brands Innovations Group Inc. announced that the proceeds will be used for general working capital and corporate purposes.

Additionally, the funds will be used to finance current operations and support the company's business expansion. Kaival Brands Innovations Group filed a registration statement on Form S-1 for the sale of these securities, which was declared effective by the United States Securities and Exchange Commission on June 21, 2024.

Featured on The Street alongside Ocugen Inc (NASDAQ: OCGN), Intelligent Bio Solutions Inc. (NASDAQ: INBS), Dyadic International Inc. (NASDAQ: DYAI) and Catheter Precision Inc. (NYSE American: VTAK) read entire news article: Discovering Undervalued Stocks in Today's Market: OCGN, INBS, KAVL, DYAI, VTAK [https://thestreetreports.com/discovering-undervalued-stocks-in-todays-market-ocgn-inbs-kavl-dyai-vtak/]

Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.

Media Contact
Company Name: The Street Reports
Contact Person: Editor
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=kaival-brands-innovations-group-nasdaq-kavl-secures-6m-in-public-offering-stock-surges-watch-vtak-ocgn-dyai-inbs]
Country: United States
Website: http://www.thestreetreports.com



This release was published on openPR.