Save Foods, Inc. (SVFD) Prices 1.09M Share Common Offering at $11/SH; Announces Nasdaq Listing

Save Foods, Inc. (NASDAQ: SVFD), an agri-food-tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure food safety of fresh fruits and vegetables, today announced the pricing of an underwritten public offering of 1,090,909 shares of Common Stock at a price to the public of $11.00 per share. The gross proceeds to the Company from this offering are expected to be approximately $12,000,000, before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option, if any. Save Foods has granted the underwriter a 45-day option to purchase up to 163,636 additional shares of Common Stock to cover over-allotments, if any, at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock are being offered by the Company. The Offering is expected to close May 18, 2021, subject to satisfaction of customary closing conditions. The Company has received approval to list its common stock on the Nasdaq Capital Market under the symbol “SVFD” and is expected to begin trading on May 14, 2021.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

Save Foods intends to use the proceeds of the offering for product research and development and purchase of lab equipment, gaining regulatory approvals and commercialization, building up its sales and marketing, working capital and general corporate purposes.

The Securities and Exchange Commission (the “SEC”) declared effective a registration statement on Form S-1 relating to these securities on May 13, 2021. A final prospectus relating to this offering will be filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus.

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