Safe-T Group Ltd. Announces Pricing of $9.75 Million Registered Direct Offering
17 February 2021 - 12:30AM
Safe-T® Group Ltd. (Nasdaq, TASE: SFET), a
provider of secure access solutions and intelligent data
collection, today announced that it has entered into definitive
agreements with accredited and institutional investors in
connection with a registered direct offering, providing for the
issuance of an aggregate of (i) 4,615,000 American depositary
shares (“ADSs”) at a purchase price of $2.00 per ADS, and (ii)
260,000 pre-funded warrants each to purchase one ADS (“Pre-Funded
Warrants”). The Pre-Funded Warrants will be sold at a price of
$2.00 each, including the Pre-Funded Warrant exercise price of
$0.001 per full ADS. The Pre-Funded Warrants will be exercisable at
any time after the date of issuance upon payment of the exercise
price.
The offering is expected to result in gross
proceeds to Safe-T of approximately $9.75 million. Safe-T Group
intends to use the net proceeds from the offering for working
capital and general corporate purposes, and for pursuing strategic
opportunities, including, but not limited to, business combination
transactions.
The offering is expected to close on February
18, 2021, subject to customary closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering.
The ADSs and Pre-Funded Warrants to be issued in
the registered direct offering will be issued pursuant to a
prospectus supplement, which will be filed with the Securities and
Exchange Commission (the “SEC”), in connection with a takedown from
the Company’s shelf registration statement on Form F-3 (File No.
333-235367), which was declared effective by the SEC on December
16, 2019. Such ADSs may be offered only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. When filed with the SEC, copies of the
prospectus supplement and the accompanying prospectus relating to
the offering of the ADSs and Pre-Funded Warrants may be obtained at
the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Safe-T® Group
Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of access
solutions and intelligent data collection.Our cloud and on-premises
solutions mitigate attacks on enterprises’ business-critical
services and sensitive data, while ensuring uninterrupted business
continuity. Organization’s access use cases, whether into the
organization or from the organization out to the internet, are
secured according to the “validate first, access later” philosophy
of Safe-T’s zero trust. This means that no one is trusted by
default from inside or outside the network, and verification is
required from everyone trying to gain access to resources on the
network or in the cloud.
The wide range of access solutions, empowered by our patented
reverse-access technology and proprietary routing technology,
reduce organizations’ attack surface, improve their ability to
defend against modern cyberthreats and enable them smooth digital
transformation and to safely migrate to the cloud.
We also offer intelligent data collection cloud service, based
on our world’s fastest and most advanced & secured business
proxy network which enables clients to collect accurate,
transparent & sensitive data from public online sources.
Safe-T’s solutions on AWS Marketplace are available hereFor
more information about Safe-T, visit www.safe-t.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates” and similar expressions
or variations of such words are intended to identify
forward-looking statements. For example, Safe-T is using
forward-looking statements in this press release when it discusses
the timing of the closing of the offering and the expected use of
proceeds. Because such statements deal with future events and
are based on Safe-T’s current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of Safe-T could differ materially from those described
in or implied by the statements in this press release. The
forward-looking statements contained or implied in this press
release are subject to other risks and uncertainties, including
those discussed under the heading “Risk Factors” in Safe-T’s annual
report on Form 20-F filed with the Securities and Exchange
Commission (“SEC”) on March 31, 2020, and in any subsequent filings
with the SEC. Except as otherwise required by law, Safe-T
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Safe-T is not
responsible for the contents of third-party websites.
INVESTOR RELATIONS CONTACTS:
Chris Tyson Executive Vice President MZ Group - MZ North America
949-491-8235 SFET@mzgroup.us www.mzgroup.us
Gary Guyton MZ Group - MZ North America 469-778-7844
SFET@mzgroup.us www.mzgroup.us
Michal Efraty +972-(0)52-3044404 michal@efraty.com
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