Save Foods (NASDAQ: SVFD), an agrifood tech company specializing in ecocrop protection designed to reduce food waste and ensure food safety while reducing the use of pesticides, intends to sell shares of its common stock in a proposed public offering. According to the announcement, all of the shares of the common stock will be sold by SVFD, with ThinkEquity acting as sole book-running manager for the offering. SVFD has announced the pricing of the public offering, which will be comprised of 1,600,000 shares of common stock, at $3 per share. The company anticipates the public offering to result in $4.8 million in gross proceeds, before deducting standard underwriting discounts and offering expenses. The offering is expected to close on Aug. 18, 2022, and will be subject to customary closing conditions. In addition, the company anticipates granting the underwriters a 45-day option to purchase an additional 15% of the number of shares of common stock sold in this offering, which will cover any overallotments. The announcement noted that the offering will be subject to market conditions.
About Save Foods Inc.
Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifood tech industry: food waste and loss and food safety. The company is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops new solutions that benefit the entire supply chain and improve the safety and quality of life of both workers and consumers alike. SVFD’s initial applications are in post-harvest treatments in fruit and vegetable packing houses that process produce such as citrus, avocado, pears, apples and mangos. For more information about the company, visit www.SaveFoods.co.
NOTE TO INVESTORS: The latest news and updates relating to SVFD are available in the company’s newsroom at https://ibn.fm/SVFD
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