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MeaTech 3D ( NASDAQ: MITC ) has announced an offering of 1,857,143 American Depositary Shares (ADS) and warrants to purchase 1,857,143 ADSs at $3.50/ADS.
The warrants will have a five-year term, will become exercisable immediately and will have an exercise price of $3.50/ADS.
Gross proceeds from the offering are expected to be ~$6.5M; net proceeds will be used for general corporate purposes.
Offering is expected to close around July 5, 2022.