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PETAH TIKVAH, Israel - SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE), a company specializing in advanced transportation safety solutions, has announced a registered direct offering of American Depositary Shares (ADSs) and a concurrent private placement of short-term warrants. The company expects to close the offering around January 31, 2025, with an anticipated aggregate gross proceeds of $1.5 million before fees and expenses. According to InvestingPro data, the company’s financial health score stands at 1.38, labeled as ’WEAK’, with revenue declining by 24.41% in the last twelve months.
In the offering, SaverOne is selling 2,171,433 ADSs at $0.70 each, notably close to its 52-week low of $0.79. These securities represent 90 ordinary shares per ADS. Concurrently, the company is also issuing short-term warrants in a private placement, which will allow holders to purchase up to 4,342,866 ADSs at an exercise price of $0.80 per ADS. With a current market capitalization of just $2.48 million and negative gross margins of 70.08%, InvestingPro analysis reveals 11 additional key indicators that could impact investment decisions. These warrants will become exercisable following shareholder approval for an increase in authorized ordinary shares, as per the company’s Articles of Association, and will expire two years after they become exercisable.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. SaverOne intends to use the net proceeds from this offering for working capital and other general corporate purposes.
The ADSs are being offered pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on September 11, 2023, which became effective on September 27, 2023. However, the short-term warrants and the ADSs underlying these warrants have not been registered and are subject to restrictions on their sale in the U.S.
SaverOne’s technology aims to enhance driver safety by preventing accidents caused by mobile phone distractions. The company is also developing a sensor system to detect vulnerable road users under all visibility conditions through their cellphone signals.
This press release does not constitute an offer to sell securities or a solicitation of an offer to buy any securities, and there will be no sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction.
The information in this article is based on a press release statement from SaverOne 2014 Ltd. While the company maintains a healthy current ratio of 1.81, indicating adequate short-term liquidity, InvestingPro’s Fair Value analysis suggests the stock may be currently undervalued. Discover comprehensive financial analysis and real-time alerts with InvestingPro.
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