N2OFF, Inc. issues shares to executives and investor

N2OFF, Inc., an agriculture chemicals company based in Israel, has disclosed the issuance of shares to executives and an investor, according to a recent SEC filing. On September 12, 2024, the company allocated a total of 640,000 shares of common stock under its 2022 Share Incentive Plan to various recipients, including key officers. Additionally, 1,050,000 shares were distributed outside of the Plan for services rendered by consultants and officers. Notably, CEO David Palach received 320,000 shares, and CFO Lital Barda was awarded 160,000 shares.

In a separate transaction on September 23, 2024, N2OFF, Inc. issued 50,000 shares to an investor as part of a standby equity purchase agreement finalized on December 23, 2023. These share issuances are exempt from registration under the Securities Act of 1933, pursuant to Section 4(a)(2), which allows for transactions by an issuer not involving a public offering.

The company, formerly known as Save Foods, Inc., with a fiscal year ending on December 31, is incorporated in Nevada and has its principal executive offices in Neve Yarak, Israel. The common stock of N2OFF, Inc. trades on the Nasdaq Capital Market under the ticker symbol NITO.

In other recent news, clean technology company N2OFF Inc. has made significant strides in the renewable energy sector through a joint venture with Solterra Renewable Energy Ltd. The partnership has secured approval for a grid connection for their 111 MWp solar PV project in Melz, Germany, potentially increasing the project's capacity by up to 10%. The approval presents N2OFF and Solterra with two options: to either expand the project's solar capacity or to integrate battery storage solutions.

In addition to the solar project, N2OFF's shareholders have approved a reverse stock split, with the board determining the exact ratio and timing. However, a proposal to increase the number of authorized shares of capital stock from 500 million to over 10 billion did not receive the required majority approval.

These are recent developments shaping the future of N2OFF as the company continues to navigate changes and maintain its commitment to sustainable energy solutions and innovative agri-tech practices.

N2OFF's venture into the solar PV market with Solterra is set to bolster the latter's project development capabilities. The global solar PV market, currently valued at $150 billion, is projected to grow to over $383.78 billion by 2032. This partnership, along with the ongoing corporate restructuring plans, are part of N2OFF's strategic expansion into the renewable energy sector.

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