SAVE FOODS, INC. (OTCMKTS:SAFO) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Securities Convertible or Exercisable into Equity Securities
On June 24, 2020, Save Foods, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “SPA”) with certain investors (the “Investors”) in connection with the sale and issuance of 485,318 units (“Units”), at a purchase price of US$1.09 per Unit, and for an aggregate purchase price of US$528,997. Each Unit consists of: (i) one share of the Company’s common stock par value US$0.0001 per share (the “Common Stock”) and (ii) one warrant to purchase one share of Common Stock with an exercise price of US$1.20 (the “Warrant”). In connection with the SPA, the Company issued to the Investors an aggregate of 485,318 shares of Common Stock and Warrants to purchase an aggregate of 485,318 shares of Common Stock. The shares of Common Stock and Warrants were issued to the Investors to Regulation S of the Securities Act of 1933, as amended.
Simultaneous with and conditioned upon the execution of the SPA, the Company and each of the Lenders that participated in that certain convertible loan agreement (the “CLA”), as reported on Form 8-K on March 23, 2020, agreed to effectively cancel the CLA and the equity securities issued thereunder. In connection therewith, each of the Lenders voluntarily waived any right to receive interest that accrued thereupon to the CLA.
Item 9.01 Exhibits.
(d) Exhibits.
| 10.1 | Form of Securities Purchase Agreement, dated June 24, 2020, by and among Save Foods, Inc. and certain investors listed therein |
| 10.2 | Form of Warrant, by and between Save Foods, Inc. and those certain investors that are a party to the Securities Purchase Agreement |
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Save Foods Inc. Exhibit
EX-10.1 2 ex10-1.htm Exhibit 10.1 SECURITIES PURCHASE AGREEMENT THIS SECURITIES PURCHASE AGREEMENT (the “Agreement”) is made as of June 24,…
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About SAVE FOODS, INC. (OTCMKTS:SAFO)
Save Foods Inc, formerly Pimi Agro Cleantech Inc, is an Israel-based company primarily engaged in the agricultural chemicals manufacture. The Company focuses on the development of ecologically-friendly solutions for pre- and post-harvest treatment of fruits and vegetables. The Company’s technology platform is based on a formulation of stabilized hydrogen peroxide (STHP). Its solutions range includes: Storage, offering SpuDefender that protects crops from diseases and deterioration during the storage period; Seeds, providing SeedGuard, which defends seeds against pathogens between storage and planting time, and Shelf Life, supplying CropDefender, which controls crops immune system in supermarkets and customer’s homes.
