Steakholder Foods Ltd. (Nasdaq: STKH) announced the immediate exercise of certain outstanding warrants to purchase 297,618 of the Company’s American Depository Shares at a reduced price of $5.00 per ADS. The Company expects gross proceeds of approximately $1.5 million from the warrants exercise and may receive an additional $4.5 million from new warrants. The net proceeds will be used for working capital, business growth, and repurchasing securities.

H.C. Wainwright & Co. is the exclusive placement agent for the transaction. The new warrants being offered have not been registered under the Securities Act of 1933. Steakholder Foods is a leading innovator in alternative proteins and 3D printing technologies, offering sustainable alternatives to traditional meat and seafood production.

Read more at GlobeNewswire: Steakholder Foods Ltd. Announces Warrant Exercise for $1.5