Alarum Technologies Ltd. announced a private placement of 187,225 units at price of $22.70 per unit for gross proceeds of $4,250,007.5 on August 29, 2023. Each unit consists of ten non-registered American Depository Shares for a price of $2.27 each ADS, and one non-registered and non-tradeable warrant, each exercisable into three American Depository Shares for $2.72 per ADS. The warrants have a term of two and a half years from the issuance date.

The closing of the transaction is expected to occur on or about September 15, 2023, subject to the satisfaction of customary closing conditions. The transaction included participation from company?s chairman of the board of directors, the Chief Executive Officer, and its Chief Financial Officer of more than $1,000,000. The company agreed to pay the finders an aggregated cash placement fee equal to 5% of all funds invested by investors in the private placement and issue finders a warrant to purchase 9,361 ADSs of the company, at an exercise price of $2.27 per ADS for a period of two and a half years.

The finders? warrant, with the exception of the exercise price and transferability, have substantially similar terms to the warrants in the private placement.