Alarum Technologies Ltd. current report, Q2 FY2020

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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 April 2020, specifically dated April 21, 2020. The filing announces the pricing of an underwritten public offering to raise capital.

Key Financial Metrics

The filing details a capital raise rather than operational financial results. Key metrics include:

  • Gross Proceeds: Approximately $8.4 million (before underwriting discounts and expenses).
  • Offering Structure:
    • 858,600 Units (1 ADS + 1 Warrant) at $1.10 per unit.
    • 6,777,500 Pre-Funded Units (Pre-Funded Warrant + 1 Warrant) at $1.099 per unit.
  • Warrant Terms:
    • Standard Warrants: Exercise price of $1.20 per ADS, exercisable immediately, expiring in five years.
    • Pre-Funded Warrants: Exercise price of $0.001 per ADS, exercisable immediately.
  • Share Conversion: Each ADS represents 40 ordinary shares.

The filing text does not provide clear values for revenue, profit, cash flow, margins, or existing debt levels.

Material Changes

This filing represents a material change in the company's capital structure through the issuance of new equity and warrants. There is no prior comparable period data provided in this specific document to assess operational changes.

Guidance, Outlook, and Risks

Outlook: The offering is expected to close on April 23, 2020, subject to customary closing conditions.

Risks and Contingencies:

  • The closing is contingent upon satisfying various conditions customary in securities purchase agreements.
  • If conditions are not met, the offering may not close.
  • Forward-looking statements are subject to risks detailed in the Company's Form 20-F filed on March 31, 2020.
  • The Company disclaims any obligation to update forward-looking statements unless required by law.

Investor Verification Checklist

  • Verify the final closing date of the offering (expected April 23, 2020) and confirm all closing conditions were met.
  • Review the Form 20-F filed on March 31, 2020, for detailed risk factors and historical financial performance.
  • Confirm the net proceeds after deducting underwriting discounts and offering expenses.
  • Assess the dilution impact of the 858,600 Units and 6,777,500 Pre-Funded Units on existing shareholders.