(RTTNews) - Steakholder Foods (STKH) has signed an agreement to acquire Twine Solutions. Upon closing, Twines shareholders will receive a minority stake in Steakholder Foods in return for all outstanding shares of Twine on a fully-diluted basis. The stake will include approximately 25% of Steakholders outstanding equity, after allocation, plus milestone warrants, which could increase the minority stake to up to 35% upon achievement of certain milestones.
Arik Kaufman, CEO of Steakholder Foods, said: "This transaction strategically broadens Steakholder Foods activity base and diversifies our income streams. By leveraging both 3D food printing and Twines revolutionary dyeing technology, we are positioning the company to capture growth in multiple industries, strengthening our commercial potential and creating sustainable long-term value for our shareholders."
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