Safe-T Group Issues Shareholder Letter
Safe-T Group Ltd. (Nasdaq, TASE: SFET) announced a $9.75 million registered direct offering to enhance its balance sheet and fund growth. The company raised over $3 million from warrant exercises last week. Safe-T expects revenues between $4.85 million and $4.95 million for 2020, marking a significant increase of 48% to 51% from 2019's $3.28 million. With approximately $23 million in cash post-offering, the firm aims to pursue M&A opportunities and expand its market presence.
- Completed a $9.75 million registered direct offering to strengthen the balance sheet.
- Raised over $3 million from warrant exercises.
- Expected revenue increase of 48-51% in 2020, up to $4.95 million.
- Post-offering cash position of approximately $23 million to support M&A strategy.
- None.
HERZLIYA, Israel, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Safe-T® Group Ltd. (Nasdaq, TASE: SFET), a provider of secure access solutions and intelligent data collection, has issued a letter to shareholders from its Chief Executive Officer, Shachar Daniel.
Dear Shareholders,
Earlier this week, we announced a
At the beginning of 2020, we set two main goals for the company to achieve. The first was to continue our organic growth with our highly scalable business model and the market adoption of our innovative products. Our second goal was to induce growth by identifying opportunities and by acquisitions. During 2020, we completed a successful acquisition of one company.
Upon the closing of our most recent equity offering, we expect to have approximately
On a personal note, our current financial position is the strongest it has been since the company was founded and I believe that future opportunities are plentiful. I am highly confident that the new capital will accelerate our revenue trajectory and will allow us to continue investing in people and technology while also positioning us to expand our reach in 2021.
We announced early this year that we expect to report revenues for the year ended December 31, 2020 in the range of
As 2020 was a milestone year for our team and shareholders, our mission has always been to be the leading provider of IP proxy (intelligent data collection) and cybersecurity solutions, rapidly penetrating the
On behalf of the entire team at Safe-T Group, we look forward to sharing our future successes with all of you.
Sincerely,
Shachar Daniel, Chief Executive Officer
About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of access solutions and intelligent data collection.
Our cloud and on-premises solutions mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.
The wide range of access solutions, empowered by our patented reverse-access technology and proprietary routing technology, reduce organizations’ attack surface, improve their ability to defend against modern cyberthreats and enable them smooth digital transformation and to safely migrate to the cloud.
We also offer intelligent data collection cloud service, based on our world’s fastest and most advanced & secured business proxy network which enables clients to collect accurate, transparent & sensitive data from public online sources.
Safe-T’s solutions on AWS Marketplace are available here
For more information about Safe-T, visit www.safe-t.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this letter when it discusses preliminary unaudited estimates of revenues for the year ended December 31, 2020, its M&A strategy and potential expansion of its business, its ability to create long-term sustainable value, its future opportunities, acceleration of its revenue trajectory, its continued investing in people and technology, expansion of its reach in 2021, its ability to continue its momentum and presence and strengthen collaborations and its ability to penetrate the cybersecurity market. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2020, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
The above information includes a preliminary estimate with respect to Safe-T’s revenues for the year ended December 31, 2020, based on currently available information. Safe-T is providing a range, rather than a specific amount, for this preliminary estimate primarily because the financial close process and review are not yet complete and, as a result, Safe-T’s final results upon completion of its closing process and review may vary from the preliminary estimate.
INVESTOR RELATIONS CONTACTS:
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SFET@mzgroup.us
www.mzgroup.us
Gary Guyton
MZ Group - MZ North America
469-778-7844
SFET@mzgroup.us
www.mzgroup.us
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
FAQ
What is the latest revenue forecast for Safe-T Group Ltd. (SFET) for 2020?
How much capital did Safe-T Group (SFET) raise through the recent direct offering?
What is Safe-T Group's (SFET) cash position after the recent capital raise?
What strategic goals did Safe-T Group (SFET) set for 2020?
