Kaival to Merge With Delta Corp.

Kaival Brands Innovations Group and Delta Corp. Holdings have entered into a merger and share exchange agreement whereby Kavial Brands and Delta will each become subsidiaries of a specially created holding company, Pubco.

Incorporated under the laws of the Cayman Islands, Delta Corp. Holdings is a privately held company for global businesses engaged in bulk and energy logistics, fuel supply, commodities and asset management.

Following closing of the transactions, which the parties expect will occur in the fourth quarter of 2024, the combined company would be traded on Nasdaq. The combined company will continue to operate under the Delta management team led by Mudit Paliwal, Peter Shaerf and Joseph Nelson.

“This transaction marks an exciting new chapter for Kaival Brands,” said Kaival Brands interim-CEO Mark Thoenes in a statement.

“Delta’s flexible, asset-light business model positions the combined company to capitalize on high growth areas within the energy and raw materials markets and offers our shareholders a unique opportunity. We are confident that this partnership will deliver substantial value to Kaival Brands’ shareholders and employees.”