STEAKHOLDER FOODS LTD Stock Price, News & Analysis

Steakholder Foods Ltd. (Nasdaq: STKH), a leading company in the cultivated meat sector, announced on April 3, 2023, its participation in a strategic investment round for Wilk Technologies Ltd. (TASE: WILK). The investment involves purchasing ordinary shares of Wilk for $450,000, allowing Steakholder to acquire a 2.5% stake at a 15% discount below the 45-day average closing price.

CEO Arik Kaufman highlighted the collaboration's potential to enhance sustainable food solutions and contribute to the Food-Tech ecosystem. Wilk develops cultured milk technologies, aligning with Steakholder's mission to innovate in food production.

Steakholder Foods Ltd. (NASDAQ: STKH) has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share, as per Listing Rule 5550(a)(2). This notification does not affect the company's current listing or trading of its American Depositary Shares (ADSs). The company has a 180-day compliance period ending on September 18, 2023, to meet this requirement, which can be achieved by maintaining a closing bid price of at least $1.00 for ten consecutive business days. If compliance is not regained, the company may face potential delisting.

Steakholder Foods Ltd. (Nasdaq: STKH) has announced a strategic restructuring of its subsidiary, Peace of Meat (PoM), aimed at launching a cultivated avian product in Singapore. The restructuring focuses on three pillars: regulatory submissions, with an application to the Singapore Food Agency by the end of 2023; production, by engaging third parties to scale up production; and efficiency, by streamlining the team to reduce overhead costs. The initiative aims to enhance productivity and improve market penetration in Singapore, the first country to approve cultivated meat for consumption.

Steakholder Foods announced the promotion of Eitan Noah from VP Finance to CFO, effective March 23, 2023, following the resignation of Guy Hefer for personal reasons. Mr. Noah has been with Steakholder since January 2021, demonstrating a solid understanding of the company's operations and strategic goals. He has a background in finance, previously serving at Inception XR and Fluence Corp. Hefer expressed confidence in Noah's capabilities and highlighted the company's growth in the cultivated meat sector, being a leader listed on the Nasdaq under the ticker STKH. Steakholder's commitment to sustainable practices remains a core focus.

Steakholder Foods Ltd. (Nasdaq: STKH) has received a patent approval in Canada for the physical manipulation of cultured muscle tissue, enhancing its efforts in the cultivated meat industry. This technology, already patented in the US, Australia, and New Zealand, is crucial for developing high-quality, complex-structured meat products. The company's CTO, Dan Kozlovski, highlighted that this advancement mimics natural muscle development, vital for consumer preference. This patent marks a significant milestone in strengthening Steakholder Foods' intellectual property portfolio and reducing reliance on traditional farming.

Steakholder Foods Ltd. (NASDAQ: STKH) announced on February 8, 2023, that its analysis of cultivated muscle cells has demonstrated a similar amino acid profile to native beef tissue. This finding suggests that the cultivated meat products can match the taste and nutritional value of conventional meat. The analysis involved testing 17 amino acids, confirming that the cultivated products contain essential amino acids vital for human nutrition, thereby supporting muscle growth, immune function, and hormone production. The company continues to advance its technologies to produce slaughter-free meat alternatives.

Steakholder Foods Ltd. (NASDAQ: STKH), an innovator in the cultivated meat industry, has announced a significant achievement in cell production, boasting a 50x increase in yield through a new filtering system. This breakthrough is designed to optimize growth methodologies, reducing costs and enhancing scalability of production. The innovative system allows for the continuous refreshment and reuse of growth media, promoting sustainable practices. The company aims to contribute to a more sustainable food system, aligning with UN Sustainable Development Goals.

Steakholder Foods Ltd. (Nasdaq: STKH) has completed an underwritten public offering of 6,500,000 ADSs at $1.00 each, raising gross proceeds of $6.5 million. This offering includes warrants exercisable at the same price, valid for five years. The underwriters have a 45-day option to purchase an additional 975,000 ADSs. Proceeds will be used for general corporate purposes. Moreover, the company modified existing warrants from a $3.50 exercise price to $1.00, extending their terms to January 10, 2028.