Transportation tech platform SaverOne 2014 Ltd. (Nasdaq: SVRE, SVREW) started trading on the Nasdaq on Friday. The Israel-based firm aims to raise approximately US$13 million in its debut on the US big board.

The offering consisted of 2,941,918 company units at US$4.13 a piece and 208,282 pre-funded units at US$4.129 each. Each unit represents one American depositary share and one purchase warrant. The warrants are exercisable at US$5.00 per ADS within five years.

The offering is set to close today, subject to customary closing conditions.

ThinkEquity is acting as the sole bookrunner for the said offering. The underwriters were given a 45-day over-allotment option to purchase up to 469,654 ADSs or pre-funded warrants and 469,654 warrants to purchase ADSs at the same IPO price.

The firm said it plans to use the proceeds for expansion, the development of solutions in the pipeline, research and development, working capital and general corporate purposes, and possible future acquisitions.

The Israeli tech firm is in the business of applying innovation to transportation safety solutions. The company’s SaverOne system, in particular, helps the driver by identifying and monitoring mobile phones and blocking the use of life-threatening applications.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.