Why MeaTech 3D Shares Are Falling Today

MeaTech 3D Ltd - ADR MITC shares are trading lower by 8.31% to $3.31 after the company announced a $6.5 million registered direct offering.

MeaTech 3D says the closing of the offering is expected to occur on or about July 5th subject to the satisfaction of customary closing conditions. MeaTech 3D intends to use the net proceeds from the offering for general corporate purposes.

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MeaTech 3D is a deep-tech food company. The company is cultivating meat technologies to improve meat production, simplify the meat supply chain and offer consumers a range of new product offerings.

According to data from Benzinga Pro, Meatech 3D has a 52-week high of $9.87 and a 52-week low of $3.20.