Save Foods Announces Approval By Stockholders Of The 20% Share Issuance Under The $20M Standby Equity Purchase Agreement; Co Changes Name To "N2OFF, INC."
Portfolio Pulse from Benzinga Newsdesk
Save Foods, Inc. (NASDAQ:SVFD), now renamed N2OFF, Inc., announced stockholder approval for a 20% share issuance under a $20M Standby Equity Purchase Agreement with YA II PN, Ltd., managed by Yorkville Advisors Global, LP. This move, compliant with Nasdaq listing rules, allows for up to $20 million of common stock purchases over 36 months. The name change to N2OFF, Inc. reflects the company's focus on sustainable agriculture and greenhouse gas reduction solutions.
February 09, 2024 | 1:32 pm
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Save Foods, Inc., now N2OFF, Inc., received stockholder approval for a significant share issuance and a strategic name change to better align with its sustainability goals.
The approval for a 20% share issuance under a $20M agreement indicates strong stockholder support and potential for capital infusion, likely boosting investor confidence. The rebranding to N2OFF, Inc. aligns with the company's focus on sustainability, potentially attracting interest from environmentally conscious investors. Both actions signal positive momentum and strategic planning, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100