4th Nov 2021 14:41
Agronomics Ltd - Isle of Man-based investor in the field of cellular agriculture - Makes a USD8 million investment in precision fermentation company Every Co for a stake of 1.4%. Agronomics says it is investing as part of a minimum fundraise of USD127.5 million undertaken by Every. "This investment broadens Agronomics' portfolio further into other major protein categories outside of meat and dairy," explains Non-Executive Director Jim Mellon.
In conjunction with this transaction, Agronomics said a new unquoted entity has been formed to accept funds from private equity investors seeking exposure to the field of cellular agriculture who are unable to invest in a public company. The new entity is called New Agrarian Co Ltd. Agronomics believes that the establishment of New Agrarian is a positive development as the combined capital bases of the two entities will facilitate larger funding rounds and provide the ability to negotiate improved lead investor terms.
New Agrarian participated in the financing for Every on the same terms as Agronomics with a USD7 million investment resulting in a stake of 1.2%.
Current stock price: 29.30 pence
Year-to-date change: more than doubled from 12p on December 31
By Evelina Grecenko; [email protected]
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