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N2OFF | 8-K: Current report

SEC ·  Dec 11 05:11

Summary by Futu AI

N2OFF entered into a securities purchase agreement on December 10, 2024, raising approximately $1.5M through a private placement. The company issued 6.25M units at $0.24 each, comprising common stock and warrants. The common warrants have a 5-year term with a $0.24 exercise price, while pre-funded warrants are exercisable at $0.00001 per share.On December 5, 2024, N2OFF acquired a majority stake in Plantify Foods, Inc. Plantify issued 2,420,848 common shares to N2OFF at CDN$0.848 per share, settling a CDN$2,052,879.39 debt. This transaction resulted in N2OFF owning approximately 65% of Plantify's outstanding shares.Additionally, N2OFF entered a waiver agreement with L.I.A. Pure Capital Ltd. regarding a previously disclosed EUR 6M credit facility. The agreement postpones the exercise of a 1.85M share warrant and extends the deadline for filing a resale registration statement, both contingent on obtaining stockholder approval.
N2OFF entered into a securities purchase agreement on December 10, 2024, raising approximately $1.5M through a private placement. The company issued 6.25M units at $0.24 each, comprising common stock and warrants. The common warrants have a 5-year term with a $0.24 exercise price, while pre-funded warrants are exercisable at $0.00001 per share.On December 5, 2024, N2OFF acquired a majority stake in Plantify Foods, Inc. Plantify issued 2,420,848 common shares to N2OFF at CDN$0.848 per share, settling a CDN$2,052,879.39 debt. This transaction resulted in N2OFF owning approximately 65% of Plantify's outstanding shares.Additionally, N2OFF entered a waiver agreement with L.I.A. Pure Capital Ltd. regarding a previously disclosed EUR 6M credit facility. The agreement postpones the exercise of a 1.85M share warrant and extends the deadline for filing a resale registration statement, both contingent on obtaining stockholder approval.

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