Jeffs' Brands Ltd announced it has entered into securities purchase agreements with certain institutional investors to issue an aggregate of 2,704,461 units and pre-funded units for gross proceeds of $7.275 million on January 25, 2024. Each Unit and pre-funded unit consist of one ordinary share and one common warrant exercisable for one and one quarter ordinary shares at an exercise price of $2.69 per ordinary share. The common warrants will be exercisable upon issuance and will have a term of 5.5 years from the issuance date.

The transaction is expected to close on January 29, 2024.