As filed with the Securities and Exchange Commission on June 18, 2020

Registration No. 333-        

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM S-8

 

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

Safe-T Group Ltd.

(Exact name of registrant as specified in its charter)

 

State of Israel   Not applicable

(State or other jurisdiction of

incorporation or organization)

  (I.R.S. Employer
Identification No.)

 

8 Abba Eban Ave., Herzliya, 4672526 Israel

(Address of Principal Executive Offices)

 

Safe-T Group Ltd. Global Equity Plan

(Full title of the plan)

 

Safe-T USA Inc.

51 John F. Kennedy Parkway, Short Hills, NJ 07078

888-304-5010

(Name, address and telephone number of agent for service)

 

COPIES TO:

 

Oded Har-Even, Esq.

Howard E. Berkenblit, Esq. 

David Huberman, Esq.

Sullivan & Worcester LLP

1633 Broadway

New York, NY 10019

(212)-660-5000

 

Eitan Shmueli, Adv.

Gregory Irgo, Adv.

Lipa Meir & Co

2 Weitzman St.

Tel Aviv 6423902, Israel

(972) 3-607-0600

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐   Accelerated filer ☐
Non-accelerated filer ☒   Smaller reporting company ☐
    Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

 

 

 

 

CALCULATION OF REGISTRATION FEE

 

Title of Securities to be Registered   Amount to be
registered (2) 		    Proposed
maximum
offering
price
per share 		    Proposed
maximum
aggregate
offering price 		    Amount of
registration fee 		 
Ordinary Shares (1)     88,000,000 (3)   $ 0.04575  (4)   $ 4,026,000      $ 522.57   
Total     88,000,000       N/A     $      4,026,000     $       522.57   

 

 

(1) American Depository Shares, or ADSs, evidenced by American Depository Receipts, or ADRs, issuable upon deposit of Ordinary Shares, no par value per share, of Safe-T Group Ltd., or the Registrant, are registered on a separate Registration Statement on Form F-6 (File No. 333-218251). Each ADS represents 40 Ordinary Shares.

 

(2) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, or the Securities Act, this Registration Statement also covers an indeterminate number of additional securities which may be offered and issued to prevent dilution resulting from stock splits, stock dividends, recapitalizations or similar transactions.

 

(3) Represents Ordinary Shares reserved for issuance upon the exercise of options that may be granted under the plan to which this Registration Statement relates.

 

(4) The fee is based on the number of Ordinary Shares which may be issued under the plan to which this Registration Statement relates and is estimated in accordance with paragraphs (c) and (h) of Rule 457 under the Securities Act solely for the purpose of calculating the registration fee based upon the average of the high and low sales price of an ADS as reported on the Nasdaq Capital Market on June 17, 2020.

 

 

 

 

 

 

EXPLANATORY NOTE

 

The purpose of this Registration Statement on Form S-8, or the Registration Statement, is to register 88,000,000 additional Ordinary Shares of Safe-T Group Ltd., or the Registrant or the Company, to be reserved for issuance under the Safe-T Group Ltd. Global Equity Plan, or the Plan, which are in addition to the 1,946,432 Ordinary Shares (such number reflecting the 20:1 reverse split of the Registrant effected on October 21, 2019) under the Plan registered on the Company’s Registration Statement on Form S-8 filed by the Registrant with the Securities and Exchange Commission, or the Commission, on August 29, 2019 (Commission File No. 333-233510), or the Prior Registration Statement.

 

This Registration Statement relates to securities of the same class as those to which the Prior Registration Statement relates, and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities. Pursuant to Instruction E of Form S-8, the contents of the Prior Registration Statement are incorporated herein by reference and made part of this Registration Statement, except as amended hereby

 

The increase in the number of Ordinary Shares authorized for issuance under the Plan was approved by the board of directors of the Company on June 9, 2020.

 

 

 

 

PART I

 

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

 

The documents containing the information required in Part I of this Registration Statement have been or will be sent or given to participating employees as specified in Rule 428(b)(1) under the Securities Act of 1933, as amended, or the Securities Act, in accordance with the rules and regulations of the Commission. Such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. 

 

1

 

 

PART II

 

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3. Incorporation of Documents by Reference.

 

The following additional documents, which have been filed by the registrant with the Commission are incorporated by reference in and made a part of this Registration Statement, as of their respective dates:

 

  (a) The Registrant’s Annual Report on Form 20-F for the fiscal year ended December 31, 2019, filed with the Commission on March 31, 2020;

  

  (b) The financial results included in the Registrant’s Reports on Form 6-K furnished to the Commission on March 31, 2020 and May 27, 2020;

 

  (c) The Registrant’s reports of foreign private issuer on Form 6-K furnished to the Commission on April 2, 2020, April 6, 2020, April 10, 2020, April 20, 2020, April 21, 2020, April 27, 2020 (with respect to the first and second paragraphs and the section titled “Forward-Looking Statements” in the press release attached as Exhibit 99.1 to the Form 6-K), May 20, 2020 (with respect to the first and second paragraphs and the section titled “Forward-Looking Statements” in the press release attached as Exhibit 99.1 to the Form 6-K), May 27, 2020; and June 17, 2020; and

 

  (d) The description of the registrant’s Ordinary Shares and ADSs contained in the registrant’s registration statement on Form 8-A (File No. 001-38610), as amended, filed under the Securities Exchange Act of 1934, as amended, or the Exchange Act, including any amendment or report filed for the purpose of updating such description.

 

In addition to the foregoing, all documents subsequently filed by the registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act and all reports on Form 6-K subsequently filed by the registrant which state that they are incorporated by reference herein, prior to the filing of a post-effective amendment which indicates that all securities offered hereunder have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents and reports.

 

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement herein, or in any subsequently filed document which also is or is deemed to be incorporated by reference, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

 

Item 8. Exhibits.

 

4.1 Amended and Restated Articles of Association of Safe-T Group Ltd. (filed as Exhibit 4.1 to Form F-3/A (File No. 333-236030) filed on January 29, 2020 and incorporated herein by reference).
   
5.1 Opinion of Lipa Meir & Co.
   
23.1 Consent of Kesselman & Kesselman, a member firm of PricewaterhouseCoopers International Limited.
   
23.2 Consent of Lipa Meir & Co (included in the opinion filed as Exhibit 5.1 to this Registration Statement).
   
24.1 Power of Attorney (included on signature page).
   
99.1 Safe-T Group Ltd. Global Equity Plan (filed as Exhibit 10.2 to Form F-1 (File No. 333-226074) filed on July 5, 2018, and incorporated herein by reference).
   
99.2 U.S. Addendum to the Safe-T Group Ltd. Global Equity Plan (filed as Exhibit 99.1.B to Form 6-K (File No. 333- 38610) filed on April 11, 2019, and incorporated herein by reference).

 

II-1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Herzliya, State of Israel, on June 18, 2020.

 

  SAFE-T GROUP LTD.
     
  By: /s/ Shachar Daniel
    Name: Shachar Daniel
    Title:   Chief Executive Officer

 

POWER OF ATTORNEY AND SIGNATURES

 

We, the undersigned officers and directors of Safe-T Group Ltd. hereby constitute and appoint each of Shachar Daniel and Shai Avnit, and each of them individually, our true and lawful attorney to sign for us and in our names in the capacities indicated below any and all amendments or supplements, including any post-effective amendments, to this Registration Statement on Form S-8 and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming our signatures to said amendments to this Registration Statement signed by our said attorney and all else that said attorney may lawfully do and cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act, this Registration Statement on Form S-8 has been signed below by the following persons in the capacities and on the dates indicated.

 

Signature   Title   Date
         
/s/ Shachar Daniel   Chief Executive Officer, Director   June 18, 2020
Shachar Daniel   (Principal Executive Officer)    
         
/s/ Shai Avnit   Chief Financial Officer   June 18, 2020
Shai Avnit   (Principal Financial and Accounting Officer)    
         
/s/ Chen Katz   Director, Chairman of the Board of Directors   June 18, 2020
Chen Katz        
         
/s/ Amir Mizhar   Director, President   June 18, 2020
Amir Mizhar        
         
/s/ Eylon Geda   Director   June 18, 2020
Eylon Geda        
         
/s/ Yehuda Halfon   Director   June 18, 2020
Yehuda Halfon        
         
/s/ Moshe Tal   Director   June 18, 2020
Moshe Tal        
         
/s/ Lior Vider   Director   June 18, 2020
Lior Vider        

 

II-2

 

 

SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

 

Pursuant to the Securities Act of 1933, as amended, the undersigned the duly authorized representative in the United States of Safe-T Group Ltd., has signed this Registration Statement on Form S-8 on June 18, 2020.

 

  Safe-T USA Inc.
   
  /s/ Amir Mizhar
  Amir Mizhar, Director

 

 

II-3

 

 

Exhibit 5.1

 

 

 

 
ד"ר ליפא מאיר אדמית כהן-וינשטוק ניר מנחם צח כהן TZAH COHEN NIR MENAHEM ADMIT COHEN-WEINSHTOK DR. LIPA MEIR
צוריאל לביא מאיר אלבוים קרן בוצר נוף שדה NOF SADEH KEREN BOZER MEIR  ELBAUM ZURIEL LAVIE
אלון פומרנץ טלי לב (II/III) לילך הוק תם פישר TOM FISHER LILACH HOEK TALI LEV(II/III) ALON POMERANC
ארתור מוהר (I) סילביה גל-יהב איתמר ליפנר עמית ביטון AMIT BITTON ITAMAR LIPPNER SYLVIA GAL-YAHAV ARTHUR MOHER(I)
עוזי מור אסף אילוז גיא משולם מאור זילכה MAOR ZILKA GUY MESHULAM ASAF ILUZ UZI MOR
גרי קופלוביץ שי תמר יוני שטינמץ נועם שוורץ NOAM SCHWARTZ YONI SHTAINMETZ SHAY TAMAR GARY COPELOVITZ
גד אזור רועי אייז אלה בן-דור בן לירז BEN LIRAZ ELLA BEN-DOR ROY AIZ GAD AZOR
ארז דר לולו ד"ר גאי כרמי טל אסולין-מנחמוב אביחי אסולין AVIHAY ASULIN TAL ASULIN-MENAHEMOV DR. GUY CARMI EREZ DAR LULU
יריב שלום יעל פלטאו-בילו (I) יותם וייס אביב אמר AVIV AMAR YOTAM WEISS YAEL FLATAU-BILU (I) YARIV SHALOM
רונן בהרב נופר טפליץ רימון דיין רעות שאולי REUT SHAULI RIMON DAYAN NUPHAR TEPLIZ RONEN BAHARAV
ד"ר זיו פרייז (II) יוסי מנדלבאום תום ניסני מורן צויבל MORAN ZWIEBEL TOM NISSANI YOSSI MANDELBAUM DR. ZIV M. PREIS (II)
מיכל שורץ שמרית כרמי-נעמת ארז גולן (נעים) תום להב TOM LAHAV EREZ GOLAN (NAIM) SHIMRIT CARMY NAAMAT MICHAL SCHWARTZ
שבתאי מיכאלי עומר מאירי ישי לבנון עדי קמחי ADI KIMHI ISHAY LEVANON OMER MEIRI SHABTAI MICHAELI
איתן שמואלי קרנית אקריש שחף רוט-קליין     SHAHAF ROTH-KLEIN KARNIT AKRISH EITAN SHMUELI
אמיר זולטי יערה פרוינד-אברהם עידו זבורוף     IDO ZABOROF YAARA FRUEND-AVRAHAM AMIR ZOLTY
ארז תיק גרגורי אירגו עמית זומר-פדידה     AMIT ZOMER-FADIDA GREGORY IRGO EREZ TIK
שירלי יפרח-אזור יצחק אנידגר ניר דפני     NIR DAFNI ISAAC ANIDJAR SHIRLEY IFRACH-AZOR
ד"ר ציפי איסר איציק דור אבינרי שקד ניסן-כהן     SHAKED NISSAN-COHEN DOR AVINERY DR. TZIPI ISER ITSIQ
גלי אופינסקי איילת רם סיגל ונצובסקי     SIGAL VANTSOVSKY AYELET RAM GALI OPINSKY
דוד וינשטיין ליהי אלימלך טל מורג איל חיאט EYAL KHAYAT TAL MORAG LIHI ELIMELECH DAVID WEINSTEIN
דנית רימון רעות בייץ ירדן הדר ד"ר יהודה בן מאיר (IV) DR. YEHUDA BEN-MEIR (IV) YARDEN HADAR REUT BEITZ DANIT RIMON
ד"ר יריב אילן יאן פלדמן שיר דיגמי-טל ד"ר אירית מבורך (IV) DR. IRIT MEVORACH (IV) SHIR DIGMI-TAL YAN FELDMAN DR. YARIV ILAN

 

 

2 WEIZMANN ST. TEL AVIV 6423902 ISRAEL, BET AMOT HASHKAOT, FAX:+ 972-3-6070666 :פקס PHONE: +972-3-6070600 :ויצמן 2 ת"א 6423902, בית אמות השקעות, טלפון     

 

 

June 18, 2020

Safe-T Group Ltd.

8 Abba Eban Ave.

Herzliya 4672526

Israel

 

Re: Safe-T Group Ltd.

 

We refer to the Registration Statement on Form S-8 (the “Registration Statement”) to be filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Act”), on behalf of Safe-T Group Ltd. (the “Company”), relating to 88,000,000 of the Company’s ordinary shares, no par value per share (the “Shares”), under the Safe-T Group Global Equity Plan (the “Plan”).

 

We are members of the Israel Bar and we express no opinion as to any matter relating to the laws of any jurisdiction other than the laws of Israel.

 

In connection with this opinion, we have examined such corporate records, other documents, and such questions of Israeli law as we have considered necessary or appropriate. In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of documents submitted to us as certified or photostatic copies, the authenticity of the originals of such copies and the due constitution of the Board of Directors of the Company.

 

Based on the foregoing and subject to the qualifications stated herein, we advise you that in our opinion, the Shares issuable under the Plan have been duly authorized and, when issued and paid for in accordance with the terms of the Plan, will be validly issued, fully paid and non-assessable.

 

We hereby consent to the filing of this opinion as part of the Registration Statement. This consent is not to be construed as an admission that we are a person whose consent is required to be filed with the Registration Statement under the provisions of the Act.

 

Sincerely yours,

 

/s/ Lipa Meir & Co.

 

 

 

 

 

 

 

 

EMAIL: LAW@LIPAMEIR.CO.IL WWW.LIPAMEIR.CO.IL
(I)   נוטריון  (II) רשיון עו"ד בניו יורק  (III) רשיון עו"ד באנגליה (IV)  יועץ (I)  NOTARY (II) ADMITTED IN NY (III) ADMITTED IN ENGLAND (IV) OF COUNSEL

 

Exhibit 23.1

 

 

 

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Safe-T Group Ltd. of our report dated March 31, 2020 relating to the financial statements, which appears in Safe- T Group Ltd.'s Annual Report on Form 20-F for the year ended December 31, 2019.

 

Tel Aviv, Israel /s/ Kesselman & Kesselman
June 18, 2020 Certified Public Accountants (Isr.)
  A member firm of PricewaterhouseCoopers International Limited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kesselman & Kesselman, Trade Tower, 25 Hamered Street, Tel-Aviv 6812508, Israel,

P.O Box 50005 Tel-Aviv 6150001 Telephone: +972 -3- 7954555, Fax:+972 -3- 7954556, www.pwc.com/il