Company: ALAR
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001213900-25-025287
Chunk: 180

Company: Alarum Technologies Ltd.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 180
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 a valuation carried out as of the date of the offering, due
to the cashless exercise mechanism included within, while the equity component was recognized by subtracting the fair value of the PP
Warrants from the consideration received. Issuance costs were allocated on a pro-rata basis between the components mentioned above. The
fair value of the financial liability was determined using the Black-Scholes model with the following principal assumptions: risk-free
interest rate4.84%, expected term (in years)2.5, expected volatility84.85%. On September 29, 2023, the registration statement covering
the resale of the ADSs issuable upon the exercise of the PP Warrants was declared effective by the Securities and Exchange Commission
and the cashless exercise mechanism was terminated. As a result, the PP Warrants in the amount of $1,116thousand were classified into
equity based on their fair value on such date. The fair value was determined using the Black-Scholes model with the following principal
assumptions: risk-free interest rate4.92%, expected term (in years)2.46, expected volatility84.25%.

In addition, the Company issued an aggregate amount
of91,851warrants to purchase91,851ADSs to placement agents (the “ Agent Warrants”), which can be exercised at an exercise
price of $2.27per ADS within 30 months from the offering date. The Company accounted for the Agent Warrants in accordance with the provisions
of IFRS 2.

The fair value of the services that were rendered
by the agents amounted to $209thousand was treated as issuance costs and was determined using the Black-Scholes model using the following
principal assumptions: risk-free interest rate4.84%, expected term (in years)2.5, expected volatility84.85%.

As of December 31, 2024, all PP Warrants and all
Agents Warrants were exercised for aggregate consideration of $1,737thousand.

F-29

ALARUM TECHNOLOGIES LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

At the Market Offering (“ ATM”)

In 2023, the Company issued2,393,740ordinary
shares through an ATM offering for total consideration of $768thousand, before deducting issuance costs of $164thousand. On August 30,
2023, the Company announced the termination of the ATM offering, effective immediately.

Shares issuance