Axil Brands, Inc. — Director's Dealing 2024

Mar 21, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Axil Brands, Inc. (AX)
CIK: 0001718500
Period of Report: 2024-03-19

Reporting Person: TOGHRAIE JEFF (Director, Chairman, CEO, 10% Owner)
Reporting Person: Intrepid Global Advisors, Inc. (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-03-19	Series A Preferred Stock	$	P	4206750	Acquired		Common Stock (210338)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1246700	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$1.80	2032-04-20	Common Stock (155000)	155000	Direct

Footnotes

F1: Jeff Toghraie is the managing director of Intrepid Global Advisors, Inc.

F2: Options vest as follows: 25% of the original grant amount vested on September 1, 2022 and the remainder vests in 24 equal monthly installments on the first day of each month, beginning October 1, 2022.

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 after the second anniversary of the date that the Issuer first issued shares of Preferred Stock, or June 16, 2022; 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 March 19, 2024, Intrepid Global Advisors, Inc. purchased 4,206,750 shares of Preferred Stock (equivalent to approximately 210,338 shares of the Issuer's common stock on an as-converted basis) for cash consideration of $25,240.50, pursuant to a repurchase agreement entered into with the previous holder of such Preferred Stock.