Jeffrey B. Brown - 08 Nov 2024 Form 4 Insider Report for Axil Brands, Inc. (AXIL)

Role
CFO, COO, Director
Signature
/s/ Jeffrey B. Brown
Issuer symbol
AXIL
Transactions as of
08 Nov 2024
Net transactions value
$0
Form type
4
Filing time
12 Nov 2024, 16:15:20 UTC
Previous filing
15 Oct 2024
Next filing
13 Jan 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding AXIL Common Stock 15,143 08 Nov 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AXIL Series A Preferred Stock Purchase +2,000,000 2,000,000 08 Nov 2024 Common Stock 100,000 By BZ Capital Strategies F3, F4, F5
holding AXIL Stock Option (right to buy) 110,000 08 Nov 2024 Common Stock 110,000 $1.80 Direct F1
holding AXIL Stock Option (right to buy) 250,000 08 Nov 2024 Common Stock 250,000 $4.01 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Fully exercisable.
F2 Options vest in 48 equal monthly installments, beginning on October 14, 2024, the date of grant, subject to continued employment through the vesting date.
F3 The Series A Preferred Stock, par value $0.0001 per share (the "Preferred Stock"), is convertible into shares of the Issuer's common stock on a twenty-for-one basis, at the option of the holder, at any time; provided, that the holder may not convert that number of shares of Preferred Stock which would cause the holder to become the beneficial owner of more than 5% of the Issuer's common stock, as determined in accordance with Sections 13(d) and (g) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. The Preferred Stock has no expiration date.
F4 On November 8, 2024, BZ Capital Strategies purchased 2,000,000 shares of Preferred Stock (equivalent to 100,000 shares of the Issuer's common stock on an as-converted basis) for consideration of $20,000, pursuant to a purchase agreement entered into with the previous holder of such Preferred Stock.
F5 Jeffrey Brown is the co-owner, Chairman of the board of directors and Chief Financial Officer of BZ Capital Strategies.