Save Foods sinks on deep-discounted stock offering

Nexentis Technologies

16/08/2022 11:04

** Save Foods Inc's  SVFD.O  shares down ~35% premarket as
co raises equity
    ** SVFD biggest pct loser across U.S. exchanges before the
bell
    ** Co, which provides solutions to improve food safety and
shelf life, sells 1.6 mln shares at $3, 37% discount to stock's
Mon close  urn:newsml:reuters.com:*:nGNX8tRPg5
    ** Shares on Mon fell 15%, cutting YTD gain to ~19%
    ** Co has ~2.9 mln shares outstanding and ~2.3 mln of public
float, per Refinitiv data
    ** ThinkEquity sole bookrunner for offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))