IPO: MeaTech 3D Limited is going public (updated)

Ness Ziona / IL. (mtl) MeaTech 3D Limited, a technology company focused on developing and out-licensing its proprietary three-dimensional printing technology, biotechnology processes and customizable manufacturing processes to food processing and food retail companies seeking to manufacture proteins without the need for animal slaughter, announced on March 12 the pricing of its previously announced initial public offering of 2,427,185 American Depositary Shares (ADS), each ADS representing 10 of its ordinary shares, at an initial public offering price of USD 10.30 per ADS, for gross proceeds of approximately USD 25.0 million. In addition, MeaTech has granted the underwriter a 30-day option to purchase up to an additional 364,077 ADSs at the initial public offering price, less underwriting discounts and commissions. MeaTech ADSs have been approved for listing on the Nasdaq Capital Market and began trading on March 12, 2021 under the ticker symbol «MITC.»

H.C. Wainwright + Co. was acting as the sole book-running manager for the offering. All ADSs to be sold in the offering are being offered by MeaTech. The offering is expected to close on or about March 16, 2021, subject to the satisfaction of customary closing conditions.

MeaTech was founded in 2018 with the aim of developing proprietary three-dimensional printing technology, biotechnology processes and customizable manufacturing processes to food processing and food retail companies seeking to manufacture proteins without the need for animal slaughter. MeaTech is developing a novel, proprietary three-dimensional bioprinter to deposit layers of differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called «clean meat» or «cultured meat.»

Update: MeaTech Announces Pricing of USD 25.0 Million U.S. Initial Public Offering of American Depositary Shares and Approval to List on Nasdaq Capital Market

Ness Ziona / IL. (03.19. / mtl) MeaTech 3D Limited, a technology company focused on developing and out-licensing its proprietary three-dimensional printing technology, biotechnology processes and customizable manufacturing processes to food processing and food retail companies seeking to manufacture proteins without the need for animal slaughter, today announced the pricing of its previously announced initial public offering of 2,427,185 American Depositary Shares (ADSs), each ADS representing 10 of its ordinary shares, at an initial public offering price of USD 10.30 per ADS, for gross proceeds of approximately USD 25.0 million. In addition, MeaTech has granted the underwriter a 30-day option to purchase up to an additional 364,077 ADSs at the initial public offering price, less underwriting discounts and commissions. MeaTech ADSs have been approved for listing on the Nasdaq Capital Market and are expected to begin trading on March 12, 2021 under the ticker symbol MITC.

H.C. Wainwright + Co. is acting as the sole book-running manager for the offering. All ADSs to be sold in the offering are being offered by MeaTech. The offering is expected to close on or about March 16, 2021, subject to the satisfaction of customary closing conditions.

MeaTech expects to receive net proceeds from this offering of approximately USD 21.9 million, or approximately USD 25.4 million if the underwriter exercises its option to purchase additional ADSs in full, after deducting underwriting discounts and commissions and estimated offering expenses payable by MeaTech. MeaTech intends to use the net proceeds from this offering to advance its program to develop commercial technologies to manufacture alternative foods, including potential acquisitions of other companies whose technologies are complementary or synergistic to its own, and for general corporate purposes, including working capital requirements.

A registration statement relating to the ADSs being sold in this offering has been filed with the Securities and Exchange Commission (the SEC) and was declared effective on March 11, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the initial public offering may be obtained, when available, for free by visiting EDGAR on the SEC’s website at www.sec.gov.