Cybersecurity Company Safe-T Group Submits Preliminary Prospectus for Nasdaq IPO
The company is currently listed on the Tel Aviv Stock Exchange and on the OTCQB venture market
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The company is already listed on the Tel Aviv Stock Exchange under SAFE, and on the OTCQB venture market as SFTTY. If its Nasdaq listing is approved, the company will delist from the over the counter market.
Founded in 1989, Safe-T offers anti-hacking solutions. The company’s clients include financial institutions, brands such as Coca-Cola and Tuborg, and government and academical entities, mainly in Israel. The company has offices in North America, APAC, Africa, Europe, and Israel, and reported revenues of $458,000 for the first quarter of 2018, up 44% year over year, and an operating loss of $2.33 million.
If successful, Safe-T intends to use the proceeds to scale up its marketing and sales activities, and for research and development.