Sativus Tech subsidiary signs $2M investment deal with South Korean investor

SATIVUS TECH CORP.

Saffron Tech signs SPA for $2M investment: $1M upfront at $10.7M pre-money, deferred $1M on milestones.
Investor gets 793,650 preferred shares, 9.35% stake; Sativus retains 58.92% after Initial Closing.
Deferred $1M contingent on successful saffron cultivation, POC verification, and $2M financing or TASE listing.
Proceeds to fund R&D, commercial production tech, and IP protection; closing expected by end of Feb 2023.
Agreement subject to Saffron Tech shareholder approval.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SATIVUS TECH CORP. entered into share purchase agreement with a South Korean investor valued at total $2 million (effective 2023-02-08).

Action: entry
Agreement: equity purchase
Counterparty: a South Korean investor
Value: total $2 million
Effective: 2023-02-08

Exact text from the filing

On February 8, 2023, the Sativus Tech Corp’s (the “Company”) Israeli subsidiary, Saffron Tech Ltd (“Saffron Tech”), signed a share purchase agreement with a South Korean investor (“Investor”), pursuant to which the investor will invest a total $2 million in Saffron Tech

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SATIVUS TECH CORP. filing history →

Source: SEC EDGAR

accession 0001213900-23-009539

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