MeaTech 3D Shares Slide On $6.5M Equity Offering

by Shivani Kumaresan, Benzinga Staff Writer

June 30, 2022 11:42 AM | 1 min read | Make a Comment

MeaTech 3D Ltd 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.

Posted In: News Penny Stocks Offerings Movers Trading Ideas Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.