Jeffs' Brands Enters Into a Non-Binding Letter of Intent for the Sale of its U.S. Subsidiary to a U.S. Public Company, at a valuation of approximately $13.125 million
Jeffs' Brands Ltd (JFBR)
Company Research
Source: GlobeNewswire
Jeffs' Brands plans to sell its wholly-owned U.S. subsidiary, Smart Repair Pro, to a public company, in exchange for an equity stake of up to 90% in the acquiring entity post transaction. Tel Aviv, Israel, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced today that it has entered into a non-binding letter of intent (“LOI”) for the sale of its subsidiary – Smart Repair Pro (the “Transaction”), which operates Jeffs’ Brands’ stores on the U.S. Amazon Marketplace, marking a strategic shift in the Company’s global focus. Following the completion of the Transaction, Smart Repair Pro will be held by a separate U.S. public company, traded on the OTC pink sheets (the “Acquiring Company”), at a valuation of approximately $13.125 million for Smart Repair Pro. Under the terms of the LOI, Jeffs' Brands will transfer all the shares of
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News
- Jeff’s’ Brands Initiates Strategic Plan by Entering into a Non-Binding Letter of Intent to Sell Subsidiary to a U.S. Public Company at a valuation of approximately $13.125 millionGlobeNewswire
- Jeffs' Brands Enters Into a Non-Binding Letter of Intent for the Sale of its U.S. Subsidiary to a U.S. Public Company, at a valuation of approximately $13.125 million [Yahoo! Finance]Yahoo! Finance
- Jeffs' Brands Receives NASDAQ Minimum Bid Price Requirement Extension [Yahoo! Finance]Yahoo! Finance
- Jeffs’ Brands Receives NASDAQ Minimum Bid Price Requirement ExtensionGlobeNewswire
- Jeffs' Brands: Fort Products Was Selected by Amazon UK as Key Account, and Now Eligible for the Top Seller Program [Yahoo! Finance]Yahoo! Finance
JFBR
Sec Filings
- 11/8/24 - Form 6-K
- 10/25/24 - Form 6-K
- 10/21/24 - Form SC
- JFBR's page on the SEC website