Save Foods Inc, an eco-friendly “green” solutions developer, has filed Amendment No 1 to Form F-1 Registration Statement on April 6, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $12 million by offering 1.1 million shares at a price range of $10 to $12. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $32 billion.
The company’s products are based on a proprietary blend of food acids which have a synergistic effect when combined with certain types of oxidizing agent-based sanitizers and fungicides at low concentrations. The Alonim, Israel-based company was founded in 2004 and plans to list on the Nasdaq Capital Market under the symbol “SVFD.” ThinkEquity is the underwriter of the IPO.
The company engages Sullivan & Worcester LLP as US Securities Counsel, and Halperin CPA as Independent Auditor.
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