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 July 2019, specifically dated July 24, 2019. The report details a corporate action involving the repricing and immediate exercise of warrants held by specific investors.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a specific securities transaction.
Material Changes
The primary material change reported is the amendment of warrant terms for two holders, Alpha Capital Anstalt and Anson Investments Master Fund LP:
- Warrant Repricing: The exercise price for an aggregate of 724,636 warrants (Reprice Warrants) was reduced from $2.3575 to $1.38 per American Depositary Share.
- Full Exercise: In consideration of the reduced price, the holders agreed to exercise all Reprice Warrants in full.
- Origin: These warrants were originally issued in private placements closing on April 11, 2019, and June 5, 2019, with a five-year term.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of general business risks. The only contingency noted is the execution of the Warrant Repricing and Exercise Letter Agreement (Exhibit 99.1). No unusual items or other material changes to the warrant terms were reported.
Investor Verification Checklist
- Verify the total number of shares issued upon the full exercise of the 724,636 repriced warrants.
- Confirm the dilution impact on existing shareholders resulting from this transaction.
- Review the cash proceeds generated from the exercise at the new price of $1.38 per share.
- Check subsequent filings for any further amendments to the warrant terms or additional private placements.