Kaival Brands announces 1-for-21 reverse stock split

Kaival Brands Innovations Group announced that it is effecting a 1-for-21 reverse stock split of its issued and outstanding common stock, effective with the opening of trading on Thursday, January 25, 2024. Kaival Brands’ Common Stock will continue to trade on the Nasdaq Capital Market under the symbol “KAVL“. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 483104402. The Reverse Stock Split was approved by the Board of Directors of the Company and Kaival Holdings,, a Delaware limited liability company, which is the holder of approximately 68.64% of the Company’s outstanding Common Stock. Kaival Holdings LLC is co-managed by Nirajkumar Patel, the Chief Science & Regulatory Officer and director of the Company.