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, announced the closing of its public offering. The offering consisted of 1,600,000 shares of SVFD common stock made available at a public offering price of $3 per share, resulting in gross proceeds of $4.8 million, before standard underwriting discounts and offering expenses are deducted. The announcement noted that the company also granted the underwriters a 45-day option to purchase additional shares of common stock — up to 240,000 — to cover any overallotments. Save Foods anticipates using the public offering proceeds for working capital and general corporate purposes. According to the announcement, ThinkEquity acted as sole book-running manager for the offering.
To view the full press release, visit https://ibn.fm/0Te5n
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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