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Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) held its virtual 2025 Annual Stockholders Meeting on October 31. According to a statement based on a recent SEC filing, shareholders voted on the election of directors and the ratification of the company’s independent auditor. The micro-cap company, currently valued at just $6.38 million, has seen its stock price decline 10.25% over the past week, trading at $0.55 per share. InvestingPro analysis suggests the stock may be slightly undervalued based on its Fair Value assessment.
As of the October 3 record date, the company had 11,593,402 shares of common stock outstanding. At the meeting, holders of 7,576,844 shares, representing about 65.35% of outstanding shares, were present in person or by proxy, constituting a quorum.
Shareholders elected five nominees to the board of directors. The results for each nominee were as follows:
- David Worner: 5,515,833 votes for, 27,927 against, 50,500 abstained, 1,982,584 broker non-votes.
- Mark Thoenes: 5,566,366 votes for, 27,857 against, 37 abstained, 1,982,584 broker non-votes.
- Ashesh Modi: 5,538,862 votes for, 54,784 against, 614 abstained, 1,982,584 broker non-votes.
- Ketankumar Patel: 5,535,589 votes for, 57,913 against, 758 abstained, 1,982,584 broker non-votes.
Each director was elected to serve until the 2026 annual meeting or until a successor is elected and qualified.
Shareholders also ratified the selection of MaloneBailey, LLP as the company’s independent registered public accounting firm for the fiscal year ending October 31, 2025. The vote count was 7,554,497 in favor, 22,094 against, and 253 abstentions.
Kaival Brands Innovations Group, Inc. is incorporated in Delaware and its common stock is listed on the Nasdaq Stock Market under the symbol KAVL. The company’s principal executive office is located in Grant-Valkaria, Florida.
This information is based on a press release statement and details disclosed in the company’s recent SEC filing.
In other recent news, Kaival Brands Innovations Group, Inc. announced the termination of its merger agreement with Delta Corp Holdings Limited. The decision was formalized through a Business Combination Termination and Release Agreement, which was executed on September 11. This agreement effectively ends the merger arrangement that was initially set forth in a Merger Agreement dated September 23, 2024. The involved parties in this merger included Kaival Brands, Delta Corp Holdings Limited from both England and Wales and the Cayman Islands, KAVL Merger Sub Inc., and Delta Corp Cayman Limited. The termination reflects a mutual decision between the companies, as outlined in a statement from an SEC filing. This development marks a significant change in the strategic plans initially anticipated by Kaival Brands and Delta Corp Holdings.
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