Jeffs’ Brands Announces Expected Implementation of 1-for-7 Reverse Share Split
TEL AVIV, Israel, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Jeffs’ Brands Ltd. (Nasdaq: JFBR) (“Company” or “Jeffs’ Brands”) a data-driven e-commerce company operating on the Amazon Marketplace, announced today that its previously announced reverse share split of its issued and outstanding ordinary shares, no par value at a ratio of 1-for-7, is expected to be implemented after market close today. The Company's Ordinary Shares will begin trading on the Nasdaq Capital Market on a post-split basis at the market open on November 3, 2023, under the Company's existing trading symbol "JFBR". The trading symbol “JFBRW” and CUSIP number for the Company’s public warrants will remain unchanged following the reverse share split.
- The trading symbol “JFBRW” and CUSIP number for the Company’s public warrants will remain unchanged following the reverse share split.
- The reverse share split was approved by the Company’s shareholders at the Company’s Annual Meeting of Shareholders held on September 5, 2023 to be effected in the board of director’s discretion within approved parameters.
- No fractional Ordinary Shares will be issued as a result of the reverse split.
- In accordance with the Company’s Articles, all fractional shares shall be rounded up to the nearest whole ordinary share.