MeaTech 3D Ltd.
| General Information | |
| Business: | (Note: IPOScoop has “No Call” on this offering. This is NOT a traditional IPO. This is a “step-up” or “uplift” IPO of ADS on the NASDAQ by a company whose ordinary shares trade on the Tel Aviv Stock Exchange Ltd. (TASE) under the symbol “MEAT.” From the prospectus: “This is our initial public offering of American Depositary Shares, or ADSs. We are offering 1,655,630 ADSs. Each ADS represents 10 ordinary shares, no par value. Based on the last reported sale price of our ordinary shares on the TASE on March 2, 2021, we have assumed an initial public offering price of $15.10 per ADS.”)
We are a technology company focused on developing and out-licensing our 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. We are 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. We are initially focused on developing cultured meat steak technology. We believe we are the first company to be developing both a proprietary bioprinter and the related processes for growing cultured meat to focus on what we believe is a high value sector of the alternative protein market.
(Note: MeaTech 3D Ltd. priced its “uplift” IPO on March 11, 2021: 2.43 million ADS, each representing 10 ordinary shares, at US$10.30 per ADS, to raise $25.0 million. The pricing terms represent an increase in the number of ADS – to 2.43 million from 1.66 million in the prospectus – and a drop in the ADS price to $10.30 – down from the assumed price of $15.10 in the prospectus – to raise $25 million – nearly the same amount as the estimated proceeds.)
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| Industry: | FOOD & KINDRED PRODUCTS |
| Employees: | |
| Founded: | 2018 |
| Contact Information | |
| Address | 18 Einstein St., P.O. Box 4061 Ness Ziona 7414001 Israel |
| Phone Number | 972 -77-541-2206 |
| Web Address | |
| View Prospectus: | MeaTech 3D Ltd. |
| Financial Information | |
| Market Cap | $1537.94mil |
| Revenues | $0 mil (last 12 months) |
| Net Income | $-13.33 mil (last 12 months) |
| IPO Profile | |
| Symbol | MITC |
| Exchange | NASDAQ |
| Shares (millions): | 2.4 |
| Price range | $10.30 - $10.30 |
| Est. $ Volume | $25.0 mil |
| Manager / Joint Managers | H.C. Wainwright & Co. |
| CO-Managers | - |
| Expected To Trade: | 3/12/2021 |
| Status: | Priced |
| Quiet Period Expiration Date: | Available only to Subscribers |
| Lock-Up Period Expiration Date: | Available only to Subscribers |
| SCOOP Rating | Available only to Subscribers |
| Rating Change | Available only to Subscribers |