GRANT-VALKARIA, Fla., June 21, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc., (NASDAQ:KAVL) ("Kaival Brands", the "Company"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), today announced the pricing of a public offering of 3,921,500 units at a public offering price of $1.53 per unit (the "Offering"). Each unit consists of one share of common stock (or one pre-funded warrant to purchase one share of common stock in lieu thereof) and one and one-half common warrants to purchase one and one-half shares of common stock. The common warrants will have an exercise price of $1.53 per share, are exercisable immediately and will expire five years following the date of issuance. Gross proceeds from the Offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $6.0 million. Maxim Group LLC is acting as sole placement agent in connection with the Offering. The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes and to fund ongoing operations and expansion of its business. The closing of the Offering is expected to occur on or about June 24, 2024, subject to the satisfaction of customary closing conditions. A registration statement on Form S-1 (File No. 333-279045) relating to the sale of these securities, as amended, was declared effective by the Securities and Exchange Commission (the "SEC") on June 21, 2024 and the Company's registration statement on Form S-1MEF filed with the SEC on June 21, 2024 became effective upon filing. This offering is being made only by means of a prospectus. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the prospectus may be obtained, when available, by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at This press release shall not constitute an offer ...