Jeffs' Brands Reports New Acquisition Plan with Canadian Firm for $11.8 Million

Jeffs' Brands Ltd, a data-driven e-commerce operator based in Tel Aviv and listed on Nasdaq, has disclosed a new non-binding letter of intent (New LOI) with a Canadian public company concerning the acquisition of its wholly-owned subsidiary, Smart Repair Pro. This development follows the termination of a previous letter of intent with a U.S. public company. The proposed transaction involves the transfer of Smart Repair Pro and Jeffs' Brands' approximate 49.1% ownership in SciSparc Nutraceuticals Inc. The transaction is valued at approximately USD $11.8 million and aims for Jeffs' Brands to receive up to a 90% equity interest in the acquirer. The New LOI requires a preliminary 75% share issuance in the Acquiror, with potential milestones triggering further equity up to 90%. Set for completion by May 30, 2025, the deal remains contingent upon satisfactory due diligence, execution of formal agreements, and regulatory clearances. The announcement underscores Jeffs' Brands' strategic direction within the e-commerce sector, as it attempts to leverage its market position within Amazon Marketplace. Additionally, Jeffs' plans align with broader industry trends of e-commerce expansion and corporate restructuring to capitalize on market opportunities.