09:29 AM EDT, 06/26/2025 (MT Newswires) -- Jeffs' Brands ( JFBR ) said Thursday it signed a securities purchase agreement with an institutional investor allowing it to issue and sell up to $100 million in convertible promissory notes, beginning with a $5 million note sold for $4.5 million.

The company said it may raise additional funds in $2.5 million increments starting in December. Total issuance before Dec. 1 is capped at $50 million, and $25 million per quarter thereafter, Jeffs' Brands ( JFBR ) said.

Net proceeds will be used for general purposes and possible acquisitions, the company said.

Shares of the company were down more than 11% in recent Thursday premarket activity.