Steakholder Foods signs MoU to acquire Twine Solutions

Steakholder Foods (STKH) announced that it has signed both a non-binding MoU to acquire Twine Solutions and binding investment and convertible loan agreements. As per the agreements, Twine’s shareholders are investing and providing a convertible loan in an aggregate amount of $1.74 million in Steakholder Foods at investment/conversion prices per ADS of $7.00, a 200% premium above Steakholder’s last closing price. Steakholder will use these proceeds to provide its own loan to Twine Solutions, convertible into Twine’s senior share class, to accelerate Twine’s commercial expansion. The parties will then negotiate the acquisition of Twine by Steakholder through an exchange of shares and warrants, creating a unified entity with unprecedented technological capabilities.