Jeffs' Brands To Sell Approx. 1.43 Mln Shares Of Fort Technology, Shares Gain In Pre-Market

(RTTNews) - Jeffs' Brands Ltd (JFBR), Friday announced an agreement to sell and transfer about 1.43 million shares of Fort Technology Inc., a global consulting and IT services company, to institutional investors for a total consideration of C$928,571.

Notably, the sale represents a valuation of C$12.5 million, and upto C$20 million on a fully diluted basis for Fort.

The sale is expected to provide additional liquidity as the company continues to execute its strategy to focus on homeland security and advance technologies.

The transaction is estimated to occur within seven days following the execution of the agreement.

In the pre-market hours, JFBR is trading at $1.11, up 7.76 percent on the Nasdaq.