Item 8.01. Other Events
As previously disclosed by Kaival Brands Innovations Group, Inc. (the
"Company"), on that certain Current Report on Form 8-K filed on January 31, 2022
with the Securities and Exchange Commission (the "SEC"), on January 26, 2022,
the Company received a written notice (the "Initial Notice") from the Listing
Qualifications department of The Nasdaq Stock Market LLC ("Nasdaq") indicating
that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2),
which requires a minimum closing bid price of $1.00 per share of the Company's
common stock (the "Minimum Bid Price Requirement"). The Initial Notice provided
the Company 180 calendar days, or until July 25, 2022, to regain compliance with
Nasdaq Listing Rule 5550(a)(2).
On February 17, 2022, the Company received a letter (the "Compliance Letter")
from the Listing Qualifications department of Nasdaq notifying the Company that
it has regained compliance with the Minimum Bid Price Requirement. The
Compliance Letter noted that (i) the Company's common stock had a closing bid
price of at least $1.00 for a minimum of ten consecutive trading days from
February 3, 2022 through February 16, 2022, and (ii) the Company has regained
compliance with the Minimum Bid Price Requirement. Accordingly, Nasdaq considers
the matter closed.
On February 18, 2022, the Company issued a press release with respect to
regaining compliance with the Minimum Bid Price Requirement, a copy of which is
attached as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS EXHIBITS
(d)
Exhibit No. Description
99.1 Press Release of Kaival Brands Innovations Group, Inc., dated
February 18, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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