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Israeli driver security tech developer SaverOne (TASE: SAVR) has filed a prospectus with the US Safety and Change Fee (SEC) for a Nasdaq IPO. The corporate, managed by CEO Ori Gilboa, develops and markets know-how to forestall distractions from mobile telephones whereas driving.
SaverOne held an IPO on the Tel Aviv Inventory Change (TASE) in mid-2020, elevating NIS 26 million at an organization valuation of NIS 87 million, earlier than cash. The corporate presently has a market cap of NIS 69 million. SaverOne didn’t disclose particulars about its valuation for its deliberate Wall Road IPO however it may be assumed that it’s on the lookout for the next valuation than its present one on the TASE, thus brining worth for its buyers by finishing the method.
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Driving security co SaverOne raises NIS 26m in IPO
After SaverOne’s Wall Road IPO, it would commerce on the Nasdaq Capital Market (secondary itemizing) by way of American Depository Shares (ADS), which observe its shares on the TASE.
In its SEC submitting, SaverOne stated that it’s competing in a market wherein automotive accidents within the US price $850 billion yearly with an estimated 660,000 US drivers at anyone time making an attempt to make use of their cellphones when driving.
SaverOne continues to be in its infancy by way of industrial actions and income, after just lately finishing pilot initiatives. In 2021, the corporate reported income of NIS 450,000, up from NIS 316,000 in 2020. In 2021 SaverOne reported a web lack of NIS 26.5 million, widening from a web lack of NIS 13.6 million in 2020.
SaverOne’s most vital shareholders are Ronen Weisberg, Ituran Location and Management, Common Motors (UMI), Yaakov Tenenbaum, and Extra Funding Home.
Printed by Globes, Israel enterprise information – en.globes.co.il – on March 8, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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