Jeffs’ Brands Signs Non-Binding LOI to Merge Fort Products with a Publicly Traded Company Valued at Up to $12 Million
Jeffs' Brands Ltd (JFBR)
Company Research
Source: GlobeNewswire
Tel Aviv, Israel, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, has signed a non-binding Letter of Intent (LOI) for the potential merge Fort Products Limited, a UK-based private company, with Impact Acquisitions Corp., a capital pool company listed on the TSX Venture Exchange. Under the proposed share exchange agreement, Impact Acquisitions will acquire 100% of Fort Products’ shares. Jeffs Brands will receive between 75.02% and 83.29% ownership of Impact share capital, contingent upon meeting predetermined milestones. The Proposed Acquisition is based on a total value of Impact of approximately 4,846,262 CAD (approximately 3,368,375 $US) (considering its cash position of at least 700,000 CAD (approximately 486,330 $US), after transaction costs) and a total value ascribed to Fort Products, of approximately 17,124,600 CAD (approximately 11,906,100 $U
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JFBR
Sec Filings
- 1/6/25 - Form EFFECT
- 1/6/25 - Form EFFECT
- 1/3/25 - Form 6-K
- JFBR's page on the SEC website