Asahi shares mark weekly slide after cyberattack halts production
REHOVOT, Israel - Steakholder Foods Ltd. (NASDAQ:STKH), a company specializing in 3D-printing technology for alternative protein production, announced Friday it will adjust the ratio of its American Depositary Shares (ADSs) effective September 10, 2025. The announcement comes as the company’s stock trades at $0.65, down over 90% year-to-date, though maintaining a healthy balance sheet with more cash than debt.
The company will change the current ratio from one ADS representing 500 ordinary shares to one ADS representing 4,000 ordinary shares. This adjustment will function as a one-for-eight reverse ADS split for current holders.
Steakholder Foods will continue trading on the Nasdaq Capital Market under the ticker "STKH" but with an updated CUSIP Number of 583435409.
The Bank of New York Mellon, serving as the depositary bank, will manage the exchange process. ADS holders will not need to take any action as the depositary will automatically exchange every eight existing ADSs for one new ADS on the effective date.
Any fractional shares resulting from the adjustment will be aggregated and sold by the depositary bank, with net proceeds distributed to the respective ADS holders.
Founded in 2019, Steakholder Foods develops and sells 3D-printing production machines for alternative protein products, along with proprietary premix blends.
The information in this article is based on a company press release statement.
In other recent news, Steakholder Foods announced the pricing of a public offering expected to raise approximately $2.5 million in gross proceeds. This offering includes 2,380,954 American Depository Shares (ADSs) and accompanying warrants, priced at $1.05 per ADS. Each ADS represents 500 ordinary shares of the company. Additionally, Steakholder Foods has signed a non-binding memorandum of understanding to acquire Twine Solutions, a company specializing in digital thread and yarn dyeing technology. As part of this strategic merger, Twine’s shareholders are investing $1.74 million in Steakholder Foods at a price of $7.00 per ADS, which is a 200% premium over the company’s last closing price. The funds from Twine’s shareholders will be used by Steakholder Foods to provide a convertible loan to Twine, aiming to support Twine’s commercial expansion. These developments highlight Steakholder Foods’ efforts to enhance its financial position and strategic capabilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.