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Israel: MeaTech 3D announces $6.5m registered direct offering

Cultured meat company intends to use the net proceeds from the offering for general corporate purposes
Image from MeaTech 3D’s website

Nasdaq-listed cultured meat company MeaTech 3D has announced a $6.5 million registered direct offering.

MeaTech 3D has entered into a definitive agreement with a US institutional investor for the purchase and sale of 1,857,143 American Depositary Shares and warrants to purchase them at  $3.50 per ADS.

The closing of the offering is expected to occur on or about 5 July.

The company stated that it intends to use the net proceeds from the offering for general corporate purposes.

A.G.P./Alliance Global Partners is sole placement agent for the offering.

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