Steakholder Foods to acquire textile tech firm Twine Solutions

REHOVOT, Israel - Steakholder Foods Ltd. (NASDAQ:STKH), a developer of 3D printing technologies for alternative proteins with a current market capitalization of $5.44 million, announced Monday it has signed an agreement to acquire Twine Solutions Ltd., a company specializing in digital thread and yarn dyeing technology. According to InvestingPro data, Steakholder maintains a healthy balance sheet with more cash than debt and a current ratio of 2.42x.

Under the agreement, Twine shareholders will receive approximately 25% of Steakholder’s outstanding equity upon closing, with potential to increase to 35% if certain milestones are achieved. Existing Steakholder shareholders will retain majority ownership.

Prior to the acquisition, Twine shareholders invested $1.74 million in Steakholder Foods through a convertible loan at what the company described as a "substantial premium." Steakholder used these proceeds to provide a loan to Twine to accelerate its commercial expansion.

Twine has developed what it calls the world’s first waterless digital thread dyeing system, protected by 10 granted and pending patents. The company has installed more than 30 systems at various brands and textile producers and reports having over $1 million in open orders.

"This transaction strategically broadens Steakholder Foods’ activity base and diversifies our income streams," said Arik Kaufman, CEO of Steakholder Foods, in the press release statement.

Twine’s primary shareholder is Gefen Capital, an investment fund targeting Israeli startups. The company has previously secured approximately $80 million in funding and established partnerships with companies including Zara and COATS Group.

The acquisition remains subject to approval by Steakholder shareholders at a general meeting and other customary closing conditions. The deal comes as Steakholder’s stock has experienced significant volatility, with InvestingPro data showing a 90.45% decline over the past six months. Subscribers to InvestingPro can access 12 additional key insights about Steakholder Foods’ financial health and market position.

In other recent news, Steakholder Foods announced the pricing of a public offering expected to generate approximately $2.5 million in gross proceeds. The offering includes 2,380,954 American Depositary Shares (ADSs) and accompanying warrants, priced at $1.05 per ADS. Each ADS in this offering represents 500 ordinary shares of the company. Additionally, Steakholder Foods revealed plans to implement a one-for-eight reverse ADS split effective September 10, 2025. This adjustment will change the current ratio from one ADS representing 500 ordinary shares to one ADS representing 4,000 ordinary shares. These developments reflect the company’s strategic efforts in managing its ADSs and raising capital.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.