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Re: Long_shortguy post# 386

Monday, 08/29/2022 10:16:34 AM

Monday, August 29, 2022 10:16:34 AM

Post# of 396

Jeffs' Brands Ltd. Announces Pricing of $15.5 Million Initial Public Offering

Tel Aviv, Israel, Aug 26, 2022 (GLOBE NEWSWIRE via COMTEX) -- Tel Aviv, Israel, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd., a data-driven e-commerce company operating on the Amazon Marketplace, announced today the pricing of its initial public offering of 3,717,473 units. Each unit is being offered at a public offering price per unit of $4.16 and consists of one ordinary share and one warrant to purchase one ordinary share, with an initial exercise price of $4.04 per share. The gross proceeds of the offering are expected to be approximately $15.5 million before deducting underwriting discounts and other estimated offering expenses. The offering is expected to close on Tuesday, August 30, 2022, subject to satisfaction of customary closing conditions.

In addition, the Company has granted Aegis Capital Corp. ("Aegis") a 45-day option to purchase up to such number of additional ordinary shares and/or warrants, equal to 15% of the number of units sold in the offering solely to cover over-allotments, if any. The purchase price to be paid per additional ordinary share will be equal to the public offering price of one unit (less $0.01 allocated to each warrant), less the underwriting discount. The purchase price to be paid per additional warrant will be $0.01. If Aegis exercises the option to purchase only such warrants, additional proceeds will be nominal. If Aegis exercises the option in full for ordinary shares, the total gross proceeds of the offering including overallotment are expected to be approximately $17.8 million before deducting underwriting discounts and offering expenses.

The ordinary shares and warrants have been approved for listing on the Nasdaq Capital Market and are expected to begin trading on the Nasdaq Capital Market under the symbols "JFBR" and "JFBRW", respectively, on August 26, 2022.



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