MeaTech 3D Shares Drop 12% After Direct Offering Prices

Dow Jones

2022/06/30

By Chris Wack

MeaTech 3D Ltd. shares fell 12% to $3.20 after the company said it agreed with a U.S. institutional investor for the purchase and sale of 1.9 million American depositary shares and warrants to buy 1.9 million ADSs at a purchase price per ADS of $3.50, pursuant to a registered direct offering.

The warrants to be issued will have a five-year term, will become exercisable immediately and will have an exercise price of $3.50 an ADS. The closing of the offering is expected on or about Tuesday.

The proceeds from the offering are expected to be $6.5 million.

Write to Chris Wack at chris.wack@wsj.com

$(END)$ Dow Jones Newswires

June 30, 2022 09:49 ET (13:49 GMT)

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