Petah Tikvah, Israel, February 21, 2025 (Globe Newswire) – Saverone 2014 Ltd. (Nasdaq: SVRE, Tase: SVRE), On February 20, 2025, Saverone 2014 received Ltd. A letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC, in which the company was announced that it was not in accordance with Nasdaq list rule 5550 (A) (2) for which the companies mentioned are required to require stated companies hold a minimum Bid price of $ 1.00 per share. Normally a company would get a period of 180 calendas to demonstrate compliance with the minimum bid price requirement. On the basis of recently established Nasdaq regulations, however, the company is not eligible for a compliance period) because the company has achieved a reverse share distribution during the previous period of one year. The ADSs of the company are subject to deletion of Nasdaq, unless the company applies to this provision on 27 February 2025.
The company is planning to request a hearing in time for the Nasdaq hearing panel (the “panel”), which request will remain the suspension of the effects of the company pending the decision of the panel. The ADSs of the company will continue to act on Nasdaq under the “SVRE” symbol in anticipation of the hearing and the decision of the panel.
As announced in the company’s 6-K reports submitted on 18 February 2025 and 20 February 2025, in force on the opening of the market on February 21, 2025, the company has an additional change in the ratio of its advertisements to ordinary shares Implemented and at the end of the market on February 21, 2025, the final bid price for its advertisements was more than $ 1.00.
The company intends to provide the panel a plan for compliance with the minimum bid price requirement. However, there may be no certainty that the panel will accept the company’s plan for compliance with the company or the request of the company will grant for continuous mention or that the company will be able to meet the continuous list requirements during each compliance period that can be granted by the panel.
About the Saverone system
The Saverone system is installed in vehicles to solve the problem of distraction of the driver, as a result of drivers who use distracting applications on their mobile phones while they are in danger in a way that endanger their safety and safety of their passengers brings. This phenomenon is considered one of the main causes of global traffic accidents. According to the US National Highway Traffic Safety Administration, the annual costs of traffic accidents just in the United States are around $ 870 billion every year, excluding the costs of serious injury or death, by a quarter of the accidents related to the use of the mobile telephones while driving. Saverone’s technology specifically recognizes the driver’s part in the vehicle. It prevents the driver from having access to distracting applications such as messages, while others (navigation as an example) are permitted without user intervention or permission, creating a safer driving environment.
Saverone’s primary target markets include commercial and private vehicle fleets that are interested in reducing potential damage and considerable costs, vehicle manufacturers interested in integrating safety solutions in their vehicles and insurance and leasing companies. Saverone initially focuses on cars with a focus on the Israeli, European and American markets and other markets worldwide. Saverone is of the opinion that an increased focus on monitoring and prevention of cellular diversion systems in vehicles, driven by the coming EU regulation, will probably have a dramatic positive effect on the demand for its systems in the future.
The company’s strategy is to offer its technology to customers in the aftermarket and to address OEM vehicle manufacturers to integrate the company’s protection technologies during the production process of vehicles.
About Saverone
Saverone is a technology company that designs, develops and commercializes OEM and aftermarket solutions and technologies to lower the risk of vehicle accidents. The first product line from Saverone is a series of solutions that save lives by preventing car accidents that result from distracting the use of mobile phones while driving. Saverone also develops a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) via their footprint of mobile phones.
Read more at https://saver.one//
Foresighting statements
This press release contains “Future -oriented statements” in the sense of the Private Securities Litigation Reform Act and other securities laws that are subject to substantial risks and uncertainties. All statements, in addition to those of historical facts that are included in this press release, are future -oriented. Future -oriented statements in this press release include, but are not limited to, statements regarding Saverone’s strategic and business plans, technology, relationships, objectives and expectations for his company, the impact of trends on and interest in his company, intellectual property or product and the future results, activities and financial performance and state and can be identified by the use of words such as ‘anticipating’, ‘faith’, ‘thinking’, ‘can’, ‘estimate’, ‘expect’, ‘, expect’, “intensive”, “search”, “May”, “Might”, “Plan”, “Potential”, “predicting”, “Project” , “Target”, “AIM”, “Should”, “Will” “would, or the negative of these words or other similar expressions. But not all Forcing -looking statements contain these words. Forward statements are based on the current expectations of Saverone and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Furthermore, certain future -oriented statements are based on assumptions about future events that may not prove to be accurate. Many factors can ensure that the actual activities or results of Saverone differ substantially from those who are expected in such future -oriented statements. Factors that can ensure that the actual results differ substantially from those that are expressed or implied in such future-oriented statements, but are not limited to: Saverone’s ability to maintain the list of the Nasdaq capital market; The ability of Saverone’s technology to significantly improve the safety of drivers; his ability to market and sell its products; are plans to continue to invest in research and development to develop technology for both existing and new products; Saverone’s intention to promote his technologies and commercialization efforts; Saverone’s intention to use local distributors in every country or region where it does business to distribute products or technology; Saverone’s plan to look for patent, trademark and other intellectual property rights for products and technologies in the United States and international, as well as the ability to maintain and protect the validity of currently held intellectual property rights; Saverone’s expectations with regard to future changes in the costs of income and operating costs; Saverone’s expectations with regard to his tax classifications; interpretations of current laws and the approval of future laws; acceptance of his business model by investors; the ability to correctly identify and enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countries in which Saverone is active; Projected capital expenditure and liquidity; Saverone’s intention to maintain important employees, and the conviction that the good relationships with all employees will maintain; A revival of the COVID-19 Pandemie and its impact on business and industry; As well as other risks and uncertainties, including, but not limited to, the risks described in the annual report of the company on form 20-f submitted to the US Securities and Exchange Commission (the “SEC”) on March 25, 2024 and subsequent prescriptions at the sec. Forward -looking statements In this announcement are made from this date and Saverone does not undertake a duty to update such information, except as required under applicable legislation.
International investor relationships Contact:
Ehud half
+1 212 378 8040
[email protected]
