Jeffs' Brands: Fort Technology Completes CAD 5 Million Private Placement of Convertible Debenture, Valuing Company at Approximately CAD 27 Million | Intellectia.AI
Jeffs' Brands: Fort Technology Completes CAD 5 Million Private Placement of Convertible Debenture, Valuing Company at Approximately CAD 27 Million
Written by Emily J. Thompson, Senior Investment Analyst
Private Placement Announcement: Jeffs' Brands Ltd announced that its subsidiary, Fort Technology Inc., has successfully closed a private placement of convertible debentures for gross proceeds of CAD 5 million.
Details of Convertible Debentures: The debentures will mature in two years, bear an interest rate of 10% per annum, and can be converted into units of Fort at a price of CAD 0.185 per unit.
Use of Proceeds: The net proceeds from the private placement will be utilized by Fort for general working capital and to support an extension of a loan under a previous agreement.
Related-Party Transaction: The private placement is considered a related-party transaction as Jeffs' Brands purchased CAD 2.2 million worth of convertible debentures, which was approved according to applicable laws and regulations.
JFBR
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About JFBR
Jeffs Brands Ltd is an Isrel-based company engaged primarily in the e-commerce sector. The Company provides various services, such as management, operation and logistics, marketing and financial services to the Company's subsidiaries that operate online stores. The Company's subsidiaries focus on the sale of various consumer products on Amazon. The Company operates through wholly owned subsidiaries, held directly or indirectly, such as Top Rank, Fort, Smart Repair Pro, Pure Logistics, Jeffs’ Brands Holdings and Fort Products LLC. The Company utilize internal methodologies to analyze sales data and patterns in order to identify existing stores, niches and products that have the potential for development and growth, and for maximizing sales of existing products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
