Jeffs’ Brands Ltd (NASDAQ: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, has closed on its recently announced private placement. The placement, which closed on Jan. 29, 2024, was with specific institutional investors. According to the announcement, gross cash proceeds from the placement totaled $7.275 million before deductions and expenses. Jeffs’ Brands anticipates using the net proceeds for working capital and general corporate purposes; funds could also be used for acquisitions, although the company has no pending acquisitions at this time. The company observes that, in connection with the private placement, it issued 2,704,461 units and prefunded units, with each unit and prefunded unit comprised of one ordinary share (or prefunded warrant), one Series A common warrant exercisable for one and one-quarter ordinary shares at an exercise price of $2.69 per one whole ordinary share, and one Series B common warrant to purchase such amount of ordinary shares as will be determined on the reset date. The announcement noted that the common warrants were exercisable upon issuance and have a term of five and one-half years from the date of issue.
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About Jeffs’ Brands Ltd.
Jeffs’ Brands is transforming the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Based on the company’s stellar team’s insight into the FBA Amazon business model, Jeff’s Brands is using both human capability and advanced technology to take products to the next level. To learn more about the company, visit www.JeffsBrands.com.
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