Jeffs' Brands shares plummeted 16.5% to $0.8650 after selling 10% of Fort Technology for CAD $928,571.

Jeffs' Brands (JFBR) shares dropped 16.5% to $0.8650 on Friday, hitting a 52-week low after announcing the sale of 1.4 million shares of Fort Technology Inc. for about CAD $928,571, or CAD $0.65 per share. The transaction, representing roughly 10% of Jeffs' Brands’ stake and 7.4% of Fort’s outstanding shares, values Fort at CAD $12.5 million on a basic basis and up to CAD $20 million on a fully diluted basis. The company said the divestment is part of a strategic shift from retail assets toward homeland security and advanced technology, with the goal of improving liquidity. Jeffs' Brands will retain a 73.93% ownership stake in Fort. The deal is expected to close within seven days, subject to standard conditions.