Agronomics (LON: ANIC) announced on Friday that portfolio company CellX Limited has completed its seed financing round.
CellX is a China-based cellular agriculture firm creating clean meat products using cell culturing and 3D bioprinting technologies.
UK-based sustainable investment company Agronomics invested $50,000 in CellX in December 2020 via a Simple Agreement for Future Equity (SAFE).
The SAFE investment has now been converted at the valuation cap divided by the company capitalisation.
Agronomics will now carry this position forward at a book value of US $300,000, representing a 500% uplift and an IRR of 4,481%. Following the conversion, Agronomics now holds 230,681 preferred shares in the company.
After closing down almost 8% on Thursday, Agronomics' share price is down 1.47% during the current session. For the year to date, its shares are up 109.38%.
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