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 million
Jeffs' Brands Ltd (JFBR)
Company Research
Source: GlobeNewswire
Jeffs’ Brands Plans to Retain Up to a 90% Equity Stake in the Acquiring Entity, Positioned for Future Growth Tel Aviv, Israel, Nov. 07, 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, initiated steps for a strategic expansion with the execution of a non-binding Letter of Intent (LOI) to sell its U.S. subsidiary, Smart Repair Pro. The proposed sale, valued at approximately $13.125 million, will transfer Smart Repair Pro to a U.S. public company traded on the OTC pink sheets (the “Acquiring Company”), paving the way for enhanced growth opportunities and sharpened market focus. As announced on October 30, 2024, Jeffs’ Brands has entered into an LOI under which it will transfer all shares of Smart Repair Pro to the Acquiring Company. In exchange, Jeffs’ Brands will receive 75% of the Acquiring Company’s issued and outstanding shares (on a fully d
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JFBR
Sec Filings
- 11/15/24 - Form 6-K
- 11/8/24 - Form 6-K
- 10/25/24 - Form 6-K
- JFBR's page on the SEC website