PRESS RELEASE

Safe-T Group Ltd. Prices $3.5 Million Public Offering

Nov 3, 2019

Herzliya, Israel – November 1, 2019 – Safe-T® Group Ltd. (NASDAQ, TASE: SFET), a provider of Secure Access solutions for on-premise and hybrid cloud environments, today announced the pricing of an underwritten public offering with gross proceeds of approximately $3.5 million, before deducting underwriting discounts, commissions and other offering expenses. The offering consists of (i) 131,400 units (the “Units”) of American Depositary Shares (each, an “ADS”) and warrants  to purchase 1.5 ADSs per warrant (the “Warrants”), with each Unit consisting of one ADS and one Warrant, and (ii) 368,500 pre-funded units (the “Pre-Funded Units”), with each Pre-Funded Unit consisting of a pre-funded warrant to purchase one ADS (a “Pre-Funded Warrant”) and a Warrant.

Each ADS represents 40 ordinary shares of the Company. Each Unit will be sold at a price of $7.00 per unit, and each Pre-Funded Unit will be sold at a price of $7.00 per unit, including the Pre-Funded Warrant exercise price of $0.001 per full ADS.  The Pre-Funded Warrants will be exercisable at any time after the date of issuance upon payment of the exercise price. The Warrants will have a per ADS exercise price of $7.70 per full ADS, are exercisable immediately, and expire five years from the date of issuance.

Safe-T Group has granted the underwriters a 45-day option to purchase up to an additional 74,985 ADSs and/or Warrants to cover over-allotments, if any.

Safe-T Group intends to use the net proceeds from the offering for working capital, general corporate purposes, and to repay up to $470,000 of a convertible loan from April 2019.

The offering is expected to close on November 5, 2019, subject to customary closing conditions.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

A registration statement on Form F-1 (No. 333-233976) relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on October 31, 2019 and is available on the SEC’s website located at http://www.sec.gov.  This offering is being made only by means of a prospectus. Electronic copies of the preliminary prospectus, and the final prospectus, when available, may be obtained on the SEC’s website or from A.G.P./Alliance Global Partners, Inc., 590 Madison Avenue, 36th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: prospectus@allianceg.com. Before investing in this offering, interested parties should read in their entirety the prospectus and the other documents that Safe-T Group has filed with the SEC that are incorporated by reference in such prospectus, which provide more information about Safe-T Group and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Safe-T® Group Ltd.
Safe-T Group Ltd. (NADSAQ, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity.

Safe-T Group’s cloud and on-premises solutions ensure that an 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 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.

Safe-T Group’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.

With Safe-T Group’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.

At Safe-T Group, we empower enterprises to safely migrate to the cloud and enable digital transformation.

Safe-T Group’s SDP solution on AWS Marketplace is available here

For more information about Safe-T Group, visit www.safe-t.com

ForwardLooking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others.  For example, forward-looking statements include statements regarding the offering, the expected timing of the closing of the offering and planned use of the net proceeds from the offering. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.  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 Group’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 26, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T Group 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. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the closing of the offering is subject to various conditions and contingencies as are customary in underwriting agreements. If these conditions are not satisfied or the specified contingencies do not occur, the offering may not close. Further, Safe-T Group may use the proceeds from the offering for different purposes than those described above. Safe-T Group does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in Safe-T Group’s filings. Safe-T Group does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

Contact
Safe-T Group Ltd.
Shai Avnit, Chief Financial Officer
shai.avnit@safe-t.com
+ 972-986-661-10

By Karin Tamir |
03/11/2019 |





Yehuda Halfon

Board Member

Mr. Yehuda Halfon has served on our board of directors since March 2016 and was appointed for a second three-year term as an external director in May 2019. Since 2009, Mr. Halfon has served as the chief executive officer at Cooperica property Ltd., which owns and manages a large geriatric center and other real estate properties in Israel. In addition, and since 2011, Mr. Halfon has served as the chief financial officer of Local Developing Germany GmbH, which owns a large portfolio of residential assets in Germany. Mr. Halfon holds a B.A. in Accounting & Economics from the Hebrew University in Jerusalem and an MBA from the Open University of Israel. Mr. Halfon is a certified CPA in Israel.

Moshe Tal

Moshe Tal

Board Member

Mr. Moshe Tal was appointed to our board of directors in May 2019, to serve as an external director. He serves as a partner with Shtainmetz Aminoach & Co. accounting, a CPA (Isr) Israeli Certified Public Accountant, Investment and Consulting firm. Mr. Tal is also a lecturer at the College of Management, Academic Studies and Department of Accounting at the Interdisciplinary Center in Herzliya. Mr. Tal served in the Israeli tax Authority for 13 years and has vast experience with tax regulations and laws, both in Israel and outside of Israel. Between 2011 and 2013 Mr. Tal served as a director of Dash Ipax Holdings Ltd. and from 2010 until 2018 as a director at Netz Group Ltd. Mr. Tal is a certified Israeli public accountant.

Lior Vider

Lior Vider

Board Member

Mr. Vider has over 15 years of experience in managing financial portfolios and investments, in organizations such as Ilanot Discount and Rakia Capital Markets. Mr. Vider is currently a Senior Investment Portfolio Manager at Epsilon Investment House Ltd., and in parallel is the founder, owner and manager of sponser.co.il, one of the leading financial portals specializing in services for investors. Mr. Vider is also an occasional contributor on capital markets and other economic issues in NRG.co.il, Calcala, Globes Business News, The Marker and the business section of The Jerusalem Post.

Eylon Jeda

Board Member

Mr. Eylon Geda has over 20 years of extensive investment experience. Prior to founding Beta Capital Management, a private consultancy firm in 2008, Mr. Geda held various positions in the fields of security research and investment management with several Israeli financial institutions. Mr. Geda holds an M.Sc degree in Finance and Accounting and a BA degree in Economics and Management Studies from Tel-Aviv University and he is a certified Financial Risk Manager (FRM) by GARP','Eylon Jeda



Yabing Wang

Advisory Board Member

Yabing Wang is the Deputy CISO at Carrier Corporation. She is responsible for security architecture and engineering for Identity and Access Management, as well as security technologies and tools for all cybersecurity domains. Yabing is also leading security strategies and executions including the Office of CISO and Program Management Office. Yabing has more than 20 years of extensive experience in technology and cybersecurity. She also has a track record of leading cybersecurity organizations, setting security strategies and delivering security capabilities to the enterprise. Yabing thrives to solve business problems, not technical problems, and partner with technology and business to make security as a differentiator and value-add for the business. Prior to Carrier, Yabing was the Vice President of Global Security at Alight Solutions and the Chief Security Architect at Allstate Insurance Company. Yabing also worked at Netscape Communications after she obtained her Master’s Degree in Computer Science from the University of Illinois at Urbana-Champaign.

Richard Greenberg, CISSP

Advisory Board Member

Richard is a well-known Cyber Security Leader and Evangelist, CISO, Advisor, and speaker. Richard brings over 30 years of management experience and has been a strategic and thought leader in IT and Information Security. His Project Management, Security Management and Operations, Policy, and Compliance experience has helped shape his broad perspective on creating and implementing Information Security Programs. Richard has been a CISO, Director of Surveillance and Information Systems, Chief of Security Operations, Director of IT, and Project Manager for various companies and agencies in the private and public sectors. Richard is an Information Systems Security Association (ISSA) Distinguished Fellow, and has received their Honor Roll designation. He has also been selected as a finalist for both the (ISC)2 Americas Information Security Leadership Award in the Senior Information Security Professional category and the Los Angeles Business Journal CIO of the Year in Security. Richard serves on the OWASP Global Board of Directors, leads the OWASP LA Chapter, and has been Co-Chair of the highly successful AppSec California conferences. Richard also is President of the Information Systems Security Association Los Angeles Chapter and is Chair of their widely recognized annual Security Summit and CISO Forum.

 





Chen Katz

Chairman of the Board

Chen Katz is the Chairman of the Board of Directors of Safe-T. Mr. Katz is the CEO of TechnoPlus Ventures Ltd., an independent investment company based in Israel, commenced its investment activities in 1997 and has been traded on the Tel-Aviv Stock Exchange (TASE: TNPV) since 1999. Mr. Katz has over 18 years of experience in identifying, deal structuring, executing and managing investments in companies and ventures of all maturity levels as well as fundraising, private placements, IPOs, PIPEs, Rights Offerings and M&A transactions. Mr. Katz currently serves as the Chairman of the board of Nanomedic Technologies Ltd. and Nicast Ltd. and serves as a director in Aminach Furniture and Mattresses Industry Ltd., CompuLap Ltd., and RapiDx Ltd. Mr. Katz also served on the board of directors of D-Led Illumination Technologies Ltd. and Shekel Scales (2008) Ltd. Mr. Katz holds a European Master in Law and Economics (EMLE) from the Complutense University of Madrid and an LL.B. from the University of Haifa, both magna cum laude.

Amir Mizhar

Founder - President & Chief Software Architect

Amir Mizhar is the Chief Software Architect of Safe-T and leads the company's vision, research and development, delivering the industry’s best enterprise security solutions, while streamlining security into critical business workflows. Prior to founding Safe-T, Amir founded and led eTouchware, acting as Chief Software Architect for an innovative file sharing system with over 500,000 users. As founder and CEO of M-Technologies, Amir led the vision and creation of online collaboration tools, and online merchandising systems for retail markets. Developing commercial software programs since the age of 13, Amir is an expert ethical hacker and currently holds multiple patents in the area of data transfer over communication networks.

Eitan Bremler

Co-Founder & VP Products and Technology

Eitan Bremler is responsible for overall global Marketing and Product Management activities of Safe-T, including product strategy and roadmap, product marketing, positioning, and go-to-market. In addition, Eitan is responsible for working with Safe-T’s strategic customers and technology partners, leading the technology relationships with the company’s service providers, OEM, and business development partners. Eitan brings to Safe-T more than 15 years’ experience in marketing, product marketing and product management roles. Prior to joining Safe-T, he held multiple product management and product marketing positions at Radware and Radvision, an Avaya company.

Shai Avnit

Chief Financial Officer

Shai Avnit leads Safe-T’s regulatory, corporate governance, and all financials affairs including taxation, accounting, budgeting, cashflows and financing. He has extensive experience in managing financial, operational, administrative, and regulatory affairs in companies within the medical device, consumer electronics and software fields. He served as CFO and other leading financial positions in several hi-tech companies, both public and private, Including Card Guard Scientific Survival (currently LifeWatch), Valor Computerized Systems, ProSight, BriefCam and others. He holds a B.A. in Accounting & Economics as well as an M.B.A. with majors in Finance & Marketing, both from Tel Aviv University.

Dafna Lipowicz

VP of Human Resources

In her role, Dafna leads all HR activities at Safe-T, including: partnering with management team to advance and support the company vision and strategy, developing strategic HR plans and policies (training, compensation and benefits, etc.), organizational and managers development, recruitment and welfare. Dafna brings to Safe-T more than 17 years of experience in various HR managerial roles, in global and complex organizations as well as in growing start-ups (such as SanDisk, Logic Industries and Mantis Vision), specializing in establishing and leading HR departments, initiating and building organizational development, according to company strategy, management consultant, talent management and recruitment. Dafna holds both an LLB and an MA in Labor Studies from Tel Aviv University. She is also a certified mediator and group facilitator.

Hagit Gal, Adv.

Legal Counsel

Hagit leads Safe-T’s legal and compliance activity, providing ongoing legal advice regarding corporate and commercial matters. Hagit brings with her extensive experience from her role at B.S.D. Crown Ltd. (LSE: BSD – formerly, Emblaze Ltd.). At B.S.D., Hagit led several corporate transactions, including mergers and acquisitions, fundraising, IPOs and other equity related offerings of both publicly and privately held companies with an emphasis on the tech sector. In addition, Hagit was responsible for the direction of corporate governance practices and regulatory compliance, structure, negotiation and drafting of commercial agreements, intellectual property, human resources and payroll, investor relations and more. She holds a Bachelor of Laws (LL.B) with a major in Commercial and Civil Law from The Academic Center of Law and Science.

Marcio Lempert

Advisory Board Chairman

Over the last 25 years, Marcio Lempert has held top management positions (CEO, SVP, Managing Director, Sales Operations) in hi-tech companies all over the world. Marcio has proven the ability to turnaround, grow profitable business and lead various hi-tech disciplines: Sales, Marketing, R&D, PM, Support, Finance and Operations.Marcio has managed sales & operations for a wide range of products and technologies, such as networking, enterprise software and cyber/IT security.During his last position at Finjan Software Security, Marcio was instrumental in leading the acquisition of the company by M86 Security and subsequently the acquisition by Trustwave in 2012.After 2012, Marcio has been involved in social projects as a volunteer and mentor at several non-for-profit organizations and later served in the position of CEO of Dualis – a Social Investment Fund whose vision is the promotion of social impact through for-profit social businesses.

Eran Ziv

Advisory Board Member

Eran Ziv has 30 years of high-tech and IT/telecom industry sales, marketing and management experience. He is the founder and CEO of SecurityDAM. A RAD Group company, involved in cloud security solutions. Prior to that, he served as the President of International Systems Division at Enablence Technologies Inc. and CEO and President of Teledata Networks Ltd. Organizations dealing with NGN (New Generation Network) solutions for the wired Telco markets. Eran was appointed as Teledata Networks Ltd. CEO and President in 2006, leading an intensive turnaround, resulting of successful accusation by Enablence Technologies Inc. in 2010. Prior to that, He served as President of Allot Communications Ltd. leading the company from early stage startup to a profitable NAZDAQ IPO organization. Eran joined Allot from his previous position as Vice President of Sales and Marketing for VocalTec Ltd. Prior to that, he served as the President and Chief Executive Officer of RADLINX (a RAD Group company), which was acquired by VocalTec in 1997. Before joining RADLINX, he held senior sales and marketing positions at Lannet Ltd. and Bynet Ltd. Eran holds a B.Sc. from the Technion – Israel Institute of Technology.

Avi Rubinstein

Chief Business Officer

Avi is the Chief Business Officer at Safe-T. Prior to joining Safe-T, Avi co-founded Inpedio and served as its CEO between 2016 and 2019. After serving as co-founder of Ectel, GM Ectel US Inc., he led Ectel’s IPO in Nasdaq in 1999 and was the co-founder of StorWiz in 2004, which was acquired by IBM in 2010. He also was the co-founder and CEO of VideoCodes in 2004, which was acquired by Thompson in 2008. In addition, Avi participated in the 2014-2015 turn-around of Nice Intelligence Division (Ticker NICE) which transformed it into a Cyber player and was acquired by Elbit in 2015. Avi also served as advisory board member in Safe-T and CyberX (Cyber defense for Critical infrastructure).

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Shachar Daniel

Co-founder and CEO

Shachar Daniel is the CEO at Safe-T and one of its co-founders. In his role, he is responsible for the overall vision, company strategy, day-to-day operations, and for growing Safe-T’s business and presence around the world. Shachar brings to Safe-T more than 14 years of experience in various managerial and business roles. Prior to founding Safe-T, he was program manager at Prime-sense, head of operations for project managers at Logic and project manager at Elbit Systems. He is an experienced manager with a passion and high commitment for project delivery. Shachar holds an Executive MBA from The Hebrew University, an MBA from The College of Management Academic Studies in Israel and a B.Sc. in Industrial Engineering from The Holon Institute Technology.