Jeffs’ Brands, an e-commerce company, experienced a decline in its shares by 10% to $3.01. This drop came after the company entered into securities purchase agreements with certain institutional investors, resulting in cash proceeds of $7.28 million.
Over the past 12 months, the stock has faced a significant decrease of 59% and reached its lowest point at $2.02 on November 22.
The purpose behind the private placement is for Jeffs’ Brands to acquire working capital, pursue general corporate goals, and potentially make acquisitions.
As a part of this private placement, the company will issue 2.7 million units and pre-funded units. Each of these units includes one ordinary share or pre-funded warrant, along with one common warrant that can be exercised for one and a quarter ordinary shares. The common warrants will be exercisable immediately upon issuance and will have a duration of 5.5 years from the date of issuance.
The closing of this private placement is expected to take place on or around Monday.
(Contact details have been omitted)
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