Business Context and Reporting Period
This Form 6-K filing by Safe-T Group Ltd. (also referenced as Alarum Technologies Ltd. in metadata) covers the month of February 2021, specifically dated February 17, 2021. The registrant is a foreign private issuer based in Herzliya, Israel, reporting a material corporate event regarding a capital raise.
Key Financial Metrics and Capital Structure
The filing details a Registered Direct Offering executed on February 16, 2021. Key financial terms include:
- Gross Proceeds: Approximately $9.75 million.
- Securities Issued: 4,615,000 American Depositary Shares (ADSs) and 260,000 Pre-Funded Warrants.
- Pricing: $2.00 per ADS and $2.00 per Pre-Funded Warrant (including a $0.001 exercise price).
- Transaction Costs: A cash placement fee of 7% of gross proceeds payable to A.G.P./Alliance Global Partners.
- Use of Proceeds: Working capital, general corporate purposes, and strategic opportunities including acquisitions.
The filing does not provide specific values for revenue, profit, operating cash flow, margins, existing debt levels, or current liquidity ratios.
Material Changes
The primary material change is the dilution of existing shareholders through the issuance of new equity and pre-funded warrants. The company expects the transaction to close on or about February 18, 2021, subject to customary conditions. No comparative financial data or changes in operational metrics versus prior periods are provided in this specific filing.
Outlook, Risks, and Management Commentary
Management intends to utilize the net proceeds to fund working capital and pursue strategic acquisitions. The filing includes standard legal disclaimers stating that the report does not constitute an offer to sell securities in jurisdictions where such an offer would be unlawful. No specific forward-looking guidance on revenue or earnings is included in this document.
Investor Verification Checklist
- Verify the final closing date of the offering (expected February 18, 2021) and confirm the actual net proceeds received after the 7% placement fee.
- Review the prospectus supplement filed with the SEC for detailed terms of the Pre-Funded Warrants and any registration rights.
- Assess the impact of the new share issuance on existing shareholder dilution.
- Monitor subsequent filings for details on the specific "strategic acquisitions" or use of capital mentioned.