Steakholder Foods Ltd. (Nasdaq: STKH), a leading innovator in 3D-printed meat and fish technology and cultivated cell innovation, today announced its plan to adjust the ratio of the company’s American Depositary Shares (ADSs) in relation to its ordinary shares. The adjustment will change the current ratio from one (1) ADS representing ten (10) ordinary shares to a new ratio of one (1) ADS representing one hundred (100) ordinary shares, effective on April 4, 2024. Steakholder Foods’ ADSs will continue to be traded on the Nasdaq Capital Market under the ticker “STKH,” with an updated CUSIP Number of 583435201.

This ratio adjustment will essentially serve as a one-for-ten reverse ADS split for ADS holders, requiring no action on their part. The Bank of New York Mellon, serving as the depositary bank for Steakholder Foods’ ADS program, will arrange for the exchange of every ten (10) existing ADSs held for one (1) new ADS on the effective date.

Arik Kaufman, CEO of Steakholder Foods, commented: “Our aim is to make Steakholder Foods’ shares more attractive to a broader range of potential institutional and retail investors with an eye toward lower volatility, better liquidity, and upholding Nasdaq’s continued listing requirements.”

There will be no issuance of new ADSs in connection with the adjustment. Any fractional shares resulting from the adjustment will be aggregated and the depositary bank will attempt to sell them and distribute the net proceeds to the respective ADS holders.

Following receipt of a notification from the Nasdaq Stock Market on October 31, 2023 regarding non-compliance with its minimum bid price requirements, Steakholder Foods anticipates that this adjustment will lead to a proportional increase in the price of its ADSs, potentially satisfying Nasdaq’s minimum bid price criteria. However, it is important to note that future price performance cannot be guaranteed.

About Steakholder Foods

Steakholder Foods is building the industry-standard machinery, software and printing materials to help accelerate the plant-based and cultivated food industries and bring them to industrial capacity. The company offers its proprietary 3D printers, printing ink formulated from constituent raw materials, operating software, and ongoing services to help manufacturers of all sizes reach the execution of their offerings.

Using its variety of manufacturing technologies and services, Steakholder Foods offers manufacturers the ability to produce plant-based food that closely mimics traditional meat’s taste, texture, and appearance— as an alternative to industrialized farming and fishing.

Our expertise lies in creating plant-based meat and seafood products with complex textures, like beef steaks, white fish, shrimp, eel, and more. While our initial focus is on plant-based options, we’re developing cultivated cells for seamless integration with an eye on the future.

For more information, please visit: https://steakholderfoods.com