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SaverOne 2014 prices 2.17M ADSs at 70c in registered direct offering

SaverOne 2014 prices 2.17M ADSs at 70c in registered direct offering

SaverOne 2014 (SVRE) entered into definitive agreements for the purchase and sale of an aggregate of 2,171,433 of its American Depositary Shares, each representing 90 ordinary shares, at a purchase price of 70c per ADS in a registered direct offering. In addition, in a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to an aggregate of 4,342,866 ADSs. The short-term warrants will have an exercise price of 80c per ADS, will become exercisable upon the Company’s receipt of shareholder approval to increase the number of its authorized ordinary shares pursuant to the Company’s Articles of Association and will expire twenty-four months thereafter. The closing of the offering is expected to occur on or about January 31, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The aggregate gross proceeds to the Company from the offering are expected to be $1.5M, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.

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