Steakholder Foods Bolsters Financial Position Through Strategic Funding Deal
Steakholder Foods has secured new funding through a private placement agreement and an equity line of credit (ELOC) with Alumni Capital LP. The financing includes an immediate capital injection of approximately $1.25 million, alongside access to an additional $8 million in funding. The private placement agreement involves the sale of 985,028 American Depositary Shares (ADSs) at $1,269 per share. Alumni Capital LP receive warrants that allow the purchase of the same number of ADSs at a price of $2.00 per share. These warrants will be valid for five years. Financial flexibility through equity line Through the ELOC, Steakholder Foods can sell shares to Alumni Capital over time, providing financial flexibility while managing dilution for existing shareholders. The company intends to use the funds for general …