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MeaTech 3D Ltd. (MITC) Prices 1.86M ADS Offering at $3.50/sh

June 30, 2022 8:31 AM EDT

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MeaTech 3D Ltd. (NASDAQ: MITC) ("MeaTech"), an international deep-tech food company at the forefront of the cultured meat industry, today announced that it has entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 1,857,143 American Depositary Shares, (or American Depositary Share equivalents in lieu thereof) and warrants to purchase 1,857,143 American Depositary Shares at a purchase price per ADS (and accompanying warrant) 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 per ADS.

The closing of the offering is expected to occur on or about July 5, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $6.5 million. The Company intends to use the net proceeds from the offering for general corporate purposes.

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

This offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-264110) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].

Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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