REHOVOT, Israel, April 19,
2024 /PRNewswire/ -- Steakholder Foods Ltd.
(Nasdaq: STKH), a pioneer in 3D-printed meat and fish
technology and cultivated cell innovation, announced that it has
received a notification letter from the Listing Qualifications
Department of the Nasdaq Stock Market ("Nasdaq"), informing
the Company that it has regained compliance with the minimum bid
price requirement set forth in Nasdaq Listing Rule 5550(a)(2).
The Company had previously announced on October 31, 2023, that it was notified by Nasdaq
that it was not in compliance with the minimum bid price
requirement set forth in Nasdaq Listing Rule 5550(a)(2), as the
closing bid price of the Company's American Depositary Shares
("ADSs") had been below $1.00 for
more than 30 consecutive business days.
On April 18, 2024, Nasdaq provided
confirmation to the Company that for the last 10 consecutive
business days, from April 4, 2024 to
April 17, 2024, the closing bid price
of the ADSs was $1.00 or greater,
that the Company has hence regained compliance with Listing Rule
5550(a)(2) and that the matter is now closed.
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
Forward-Looking Statements
This press release contains forward-looking statements
concerning Steakholder Foods' business, operations and financial
performance and condition as well as plans, objectives, and
expectations for Steakholder Foods' business operations and
financial performance and condition. Any statements that are not
historical facts may be deemed to be forward-looking statements.
Forward-looking statements reflect Steakholder Foods' current views
with respect to future events and are based on assumptions and
subject to known and unknown risks and uncertainties, which change
over time, and other factors that may cause Steakholder Foods'
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and are typically identified
with words such as "may," "could," "should," "will," "would,"
"believe," "anticipate," "estimate," "expect," "aim," "intend,"
"plan" or words or phases of similar meaning and include, without
limitation, Steakholder Foods' expectations regarding the success
of the technologies which it is developing, which may require
significant additional work before Steakholder Foods can
potentially launch commercial sales; Steakholder Foods' research
and development activities associated with printing technologies,
including three-dimensional food printing, which involves a lengthy
and complex process; Steakholder Foods' ability to obtain and
enforce its intellectual property rights and to operate its
business without infringing, misappropriating, or otherwise
violating the intellectual property rights and proprietary
technology of third parties; and other risks and uncertainties,
including those identified in Steakholder Foods' Annual Report on
Form 20-F for the fiscal year ended December
31, 2022, filed with the Securities and Exchange Commission
on April 4, 2023. New risks and
uncertainties may emerge from time to time, and it is not possible
for Steakholder Foods to predict their occurrence or how they will
affect Steakholder Foods. If one or more of the factors affecting
Steakholder Foods' forward-looking information and statements
proves incorrect, then Steakholder Foods' actual results,
performance or achievements could differ materially from those
expressed in, or implied by, forward-looking information and
statements contained in this press release. Therefore, Steakholder
Foods cautions you not to place undue reliance on its
forward-looking information and statements. Steakholder Foods
disclaims any duty to revise or update the forward-looking
statements, whether written or oral, to reflect actual results or
changes in the factors affecting the forward-looking statements,
except as specifically required by law.
Press
Contact:
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Investor
Contacts:
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Maissa
Dauriac
Rainier Communications mdauriac@rainierco.com
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Steakholder
Foods
Investors@steakholderfoods.com
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SOURCE Steakholder Foods Ltd.