This growth is largely attributed to the strategic acquisition of Fort Product Ltd. (“Fort”), in March 2023 and an expanded product lineup, particularly in the pest control.
Key Points:
- This growth is largely attributed to the strategic acquisition of Fort Product Ltd. (“Fort”), in March 2023 and an expanded product lineup, particularly in the pest control.
- Operating Loss: Jeffs' Brands experienced an operating loss of $5,089 thousand in 2023, compared to a loss of $4,512 thousand in 2022.
- Pioneering the Pest Control Sector with Fort Acquisition: In a strategic move to dominate the pest control market, Jeffs' Brands acquired Fort in March 2023.
- The PIPE transaction emphasizes investor confidence in Jeffs' Brands’ vision and strategic direction, enhancing its liquidity and financial stability.
Tel Aviv, Israel, March 14, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, today announced the expansion of the Fort brand, under its wholly owned subsidiary Fort Products Ltd. (“Fort”), with the launch of a novel line of pest control solutions. This new product range, characterized by its innovative pest-repellent technology, marks a significant advancement in the pest control industry, offering consumers dozens of unique products designed to effectively repel pestsin a non-lethal manner.
Key Points:
- This new product range, characterized by its innovative pest-repellent technology, marks a significant advancement in the pest control industry, offering consumers dozens of unique products designed to effectively repel pestsin a non-lethal manner.
- The launch of this new line under the Fort brand represents a significant step forward in our commitment to innovation, quality, and sustainability in the pest control market."
- The uniqueness of the Fort brand's new pest control line lies in its advanced repellent technology.
- In line with its strategy to meet the growing demand for effective pest control solutions worldwide, Jeffs' Brands has ensured that the new Fort product line is readily available to consumers through the Amazon Marketplace.
Tel Aviv, Israel, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced that its wholly owned subsidiary, Fort Products Ltd. (“Fort”), had signed an exclusive distribution agreement with a leading manufacturer of solar panel protection and related products (the “Products”). According to the agreement, previously announced on January 23, 2023, Fort was granted the exclusive right to sell and market the Products as an independent distributor, with no territorial limitation.
Key Points:
- Tel Aviv, Israel, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced that its wholly owned subsidiary, Fort Products Ltd. (“Fort”), had signed an exclusive distribution agreement with a leading manufacturer of solar panel protection and related products (the “Products”).
- According to the agreement, previously announced on January 23, 2023, Fort was granted the exclusive right to sell and market the Products as an independent distributor, with no territorial limitation.
- As a result, Fort and the manufacturer decided to expand their partnership and enter into an exclusive distribution agreement.
- "As a leading brand in the pest control market, Fort recognized the growing demand for protecting solar panels from pests, leading us to expand into the solar panel protection sector.
Retrieved on:
Wednesday, January 31, 2024
Tel Aviv, Israel, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, today announced it has completed the establishment of a dedicated manufacturing line for a wide range of products offered by its wholly-owned subsidiary Fort Products Ltd. (“Fort”), in China. The new dedicated production line will facilitate in meeting future demands and cost reductions.
Key Points:
- The new dedicated production line will facilitate in meeting future demands and cost reductions.
- Fort currently offers over 120 different products for pest control and related products, both for consumers, through its brand on the Amazon Marketplace and as wholesaler for organizations and institutions.
- In the past year, we have expanded into new regions, thereby broadening the reach of our brand.
- To support this growth, a dedicated production line is instrumental in scaling up our business operations."
Retrieved on:
Tuesday, January 30, 2024
The aggregate gross cash proceeds were $7.275 million, before deducting fees to the placement agent and other offering expenses payable by the Company.
Key Points:
- The aggregate gross cash proceeds were $7.275 million, before deducting fees to the placement agent and other offering expenses payable by the Company.
- In connection with the private placement, the Company issued an aggregate of 2,704,461 units and pre-funded units.
- No actual units or pre-funded units were issued in connection with the private placement.
- Aegis Capital Corp. acted as the Exclusive Placement Agent for the private placement.
Retrieved on:
Thursday, January 25, 2024
In connection with the private placement, the Company will issue an aggregate of 2,704,461 units and pre-funded units.
Key Points:
- In connection with the private placement, the Company will issue an aggregate of 2,704,461 units and pre-funded units.
- The closing of the private placement is expected to occur on or about January 29, 2024, subject to the satisfaction of certain customary closing conditions.
- Aegis Capital Corp. is acting as the Exclusive Placement Agent for the private placement.
- is serving as counsel to Aegis Capital Corp. for the private placement.
Retrieved on:
Wednesday, December 20, 2023
Tel Aviv, Israel, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, signed an additional non-binding letter of intent (“LOI") with Sky Growth Partners Ltd. (“Sky Growth”), to invest in advanced laser- based wireless power transmission technology systems, for the remote charging of drones and unmanned aircrafts (the “Investment”).
Key Points:
- According to Allied Market Research, the global wireless power transmission market size was valued at $5.7 billion in 2020, and is projected to reach $35.2 billion by 2030, registering a CAGR of 21.3% from 2021 to 2030.1.
- According to the LOI, Sky Growth will establish and transfer all of its rights in the technology to a new Israeli company that will develop, manufacture and market the technology ("NewCo").
- Following an investment of $2.5 million by Jeffs’ Brands, it will hold a 70% equity interest in NewCo.
- The system will enable wireless charging for drones and unmanned aircrafts.
Retrieved on:
Monday, December 18, 2023
Tel Aviv, Israel, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, signed a non-binding letter of intent (“LOI”) with Sky Growth Partners Ltd. (“Sky Growth”), to invest in an innovative Digital Light Processing (DLP) laser-based system for counter-drone solutions, initially for the defense sector (the “Investment”).
Key Points:
- According to the LOI, as previously announced on December 14, 2023, Sky Growth will establish and transfer all of its rights in the technology to a new Israeli company that will develop, manufacture and market the technology ("NewCo").
- Following an investment of $2 million by Jeffs’ Brands, it will hold a 70% equity interest in NewCo.
- The laser-based system will potentially be in use for defense and commercial applications, such as: neutralizing drone attacks, protecting against commercial espionage, strategic infrastructure protection and more.
- The Investment is subject to the successful completion of due diligence, the execution of binding definitive agreements with respect to the Investment and compliance with any regulatory requirements and approvals.
Retrieved on:
Friday, December 15, 2023
Tel Aviv, Israel, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced today the signing of an additional non-binding letter of intent (“LOI") with Sky Growth Partners Ltd. (“Sky Growth”), to invest in advanced laser- based wireless charging technology systems, for the remote charging of drones and unmanned aircrafts (the “Investment”).
Key Points:
- According to the LOI, Sky Growth will establish and transfer all of its rights in the technology to a new Israeli company that will develop, manufacture and market the technology ("NewCo").
- Following an investment of $2.5 million by Jeffs’ Brands, it will hold a 70% equity interest in NewCo.
- The LOI also includes certain milestone conditions that if achieved by NewCo, will grant the founders, for no additional consideration, additional equity interests in NewCo.
- The system will enable wireless charging for drones and unmanned aircrafts.
Retrieved on:
Thursday, December 14, 2023
Tel Aviv, Israel, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced today the signing of a non-binding letter of intent (“LOI”) with Sky Growth Partners Ltd. (“Sky Growth”), to invest in an innovative Digital Light Processing (DLP) laser-based system for drone countermeasure solutions, initially for the defense sector (the “Investment”).
Key Points:
- According to the LOI, Sky Growth will establish and transfer all of its rights in the technology to a new Israeli company that will develop, manufacture and market the technology ("NewCo").
- Following an investment of $2 million by Jeffs’ Brands, it will hold a 70% equity interest in NewCo.
- The LOI also includes certain milestone conditions that if achieved by NewCo, will grant the founders, for no additional consideration, additional equity interests in NewCo.
- The system will be able to neutralize any visual systems such as cameras that are installed on drones and other aerial and non-aerial objects.
