Safe-T (SFET) Announces Pricing of $9.75 Million Registered Direct Offering of ADSs and Warrants

February 16, 2021 8:34 AM EST

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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.



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