Israeli Cultured Meat Start-up MeaTech Files for US IPO

Israeli-based MeaTech announced on Sunday, March 7 that it has began marketing for its proposed U.S. Initial Public Offering (IPO). This initial offering is for 1,655,630 American Depositary Shares (ADSs). Each share represents 10 of its ordinary shares, to the public, at an assumed initial public offering price of $15.10 per ADS. This offering price is based on the last reported sale price of MeaTech's ordinary shares on the Tel Aviv Stock Exchange of NIS 4.965, or $1.51, per share on March 2, 2021. MeaTech also intends to grant the underwriter a 30-day option to purchase up to additional 248,345 ADSs.

MeaTech has applied to list its ADSs on the Nasdaq with the symbol "MITC." MeaTech's ordinary shares are listed on the Tel Aviv Stock Exchange under the ticker symbol "MEAT".

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