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An announcement from Jeffs’ Brands Ltd. ( (JFBR) ) is now available.
On January 16, 2025, Jeffs’ Brands Ltd issued a $2.85 million non-recourse convertible promissory note to an institutional investor. The net proceeds, totaling $2.565 million, will be used for working capital, general corporate purposes, and potential acquisitions, particularly to expand operations from the U.K. to the U.S. market, which is anticipated to exhibit significant growth in the pesticides market. This strategic financial move includes a warrant for purchasing ordinary shares and aligns with the company’s objective to leverage Fort Products Ltd.’s success in the U.K. market. This issuance was approved by the company’s audit committee and board of directors, considering potential conflicts of interest involving the company’s CEO, Vik Hacmon.
More about Jeffs’ Brands Ltd.
Jeffs’ Brands Ltd is a data-driven e-commerce company operating on the Amazon Marketplace. The company aims to transform e-commerce by creating and acquiring products to become market leaders, utilizing insights into the FBA Amazon business model to enhance product potential through human capability and advanced technology.
YTD Price Performance: -6.39%
Average Trading Volume: 954,860
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.79M
See more data about JFBR stock on TipRanks’ Stock Analysis page.
