Core Viewpoint - Jeffs' Brands Ltd has entered into a new non-binding letter of intent for the acquisition of its subsidiary Smart Repair Pro and a minority stake in SciSparc Nutraceuticals Inc. by a Canadian public company, in exchange for up to a 90% equity interest in the Acquiror [1][2] Group 1: Transaction Details - The previous letter of intent with a U.S. public company was terminated, leading to the new agreement with a Canadian public company [1] - The transaction involves the transfer of all shares of Smart Repair Pro and the 49.1% ownership interest in SciSparc Nutraceuticals Inc. for an initial 75% of the Acquiror's shares, with potential additional shares to reach up to 90% equity interest based on milestones [2] - The transaction is expected to close by May 30, 2025, subject to due diligence, binding agreements, and regulatory approvals [3] Group 2: Company Background - Jeffs' Brands aims to transform e-commerce by creating and acquiring products for the Amazon Marketplace, leveraging management insights and technology to enhance product offerings [5]
Jeffs' Brands Provides Update Regarding Potential Acquisition of its U.S. Subsidiary, for an Approximate Valuation of USD $11.8 million to a Canadian Public Company