Israel’s Jeffs’ Brands closes $7.28m private placement

The net proceeds will be used to improve the company’s overall operations and capital.

Israel-based e-commerce company Jeffs’ Brands Ltd. has finalised its private placement with several key institutional investors, closing with $7.28m in proceeds.

The data-driven company, operating on Amazon Marketplace, plans to use the net proceeds for its working capital and general corporate functions, including potential acquisitions.

In addition, Jeffs’ Brands has released an aggregate of 2,704,461 units and pre-funded units, sold at the same purchase price as the units, less the warrant exercise price of $0.00001.

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Every unit, pre-funded or not, is comprised of one ordinary share (or pre-funded 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 several ordinary shares, determined on the reset date at an exercise price of $0.00001 per ordinary share.

Aegis Capital Corp. served as the Exclusive Placement Agent for the private placement.