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Benzinga
Benzinga
Business
Shivani Kumaresan

MeaTech 3D Shares Slide On $6.5M Equity Offering

Nasdaq United States
  • MeaTech 3D Ltd (NASDAQ:MITC) has entered into a definitive agreement with a single U.S. institutional investor for an offering of 1.9 million ADSs and warrants to purchase the shares at a purchase price of $3.50 per ADS.
  • The warrants to be issued will have a five-year term and become exercisable immediately.
  • The company expects the gross proceeds from the offering to be approximately $6.5 million. It intends to use the net proceeds for general corporate purposes.
  • The closing of the offering is expected to occur on or about July 5, 2022
  • Price Action: MITC shares are trading lower by 8.59% at $3.30 on the last check Thursday.
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