Save Foods, Inc. Announces Closing of Public Offering
Neve Yarak, Israel, Aug. 18, 2022 (GLOBE NEWSWIRE) — Save Foods, Inc. (Nasdaq: SVFD) (FSE:80W), an agri-food tech company specializing in eco crop protection that helps to reduce food waste and ensure food safety while reducing the use of pesticides, today announced the closing of its previously announced public offering of 1,600,000 shares of its common stock at a public offering price of $3.00 per share, for gross proceeds of $4.8 million, before deducting underwriting discounts and offering expenses. In addition, Save Foods, Inc. has granted the underwriters a 45-day option to purchase up to an additional 240,000 shares of common stock to cover over-allotments, if any, at the public offering price, less underwriting discounts and commissions.
The Company intends to use the proceeds from the offering for working capital and general corporate purposes.
ThinkEquity acted as sole book-running manager for the offering.
The offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think-equity.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Save Foods
Save Foods (Nasdaq: SVFD) is an innovative, dynamic company addressing two of the most significant challenges in the agri-food tech industry: food waste and loss and food safety. We are dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with our customers, we develop new solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Our initial applications are in post-harvest treatments in fruit and vegetable packinghouses processing produce including citrus, avocado, pears, apples and mangos.
For more information visit our website: https://savefoods.co/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, we are using forward-looking statements in this press release when we discuss the use of proceeds from the offering. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those discussed under the heading “Risk Factors” in Save Foods’ Annual Report on Form 10-K filed with the SEC on March 31, 2022, Form 10-Q filed with the SEC on May 16, 2022 and August 15, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Media Contact:
IR@savefoods.co
US Investor Relations:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
SVFD@redchip.com
German Investor Relations:
Dr Eva Reuter
e.reuter@dr-reuter.eu
