RSS Jeffs' Brands Reveals LOI For Acquisition Of Interest In Smart Repair Pro, SNI By Canadian Co.

[Crax Bot]

Jeffs' Brands Ltd. (ticker symbols JFBR, JFBRW) announced on Tuesday its intention to acquire Smart Repair Pro and an approximately 49.1% stake in SciSparc Nutraceuticals Inc. from a Canadian public company. This acquisition is estimated to be worth around $11.8 million.

This data-driven e-commerce enterprise, which conducts operations on the Amazon Marketplace, plans to complete the acquisition in exchange for up to a 90% equity interest in the Canadian company. Once the transaction concludes, the acquiring entity will assume ownership of Jeffs' Brands' interests in Smart Repair Pro and SciSparc Nutraceuticals Inc.

In an initial transaction stage, Jeffs' Brands will transfer all its outstanding shares of Smart Repair Pro and SciSparc Nutraceuticals, including those held by Jeffs' Brands Holding Inc., to the acquiring company in return for an initial 75% share. The completion of the transaction is anticipated by May 30, 2025.

Previously, Jeffs' Brands had entered into a letter of intent with a U.S. public company; however, this agreement was subsequently terminated according to its stipulated terms.

The material has been provided by InstaForex Company - www.instaforex.com

Click to read more...