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(Correcting that Agronomics is an investor in alternative proteins, with focus on cellular agriculture and cultivated meat.)
Agronomics Ltd - investor in alternative proteins - Says portfolio company BlueNalu has now closed its USD60 million debt financing in the form of convertible promissory notes from new and existing investors. Agronomics currently holds 192,005 shares of BlueNalu. Agronomics says its convertible promissory notes, and all other convertible promissory notes raised in this round, will convert at a qualified financing, being an equity fundraise of USD50 million or greater. Assuming a qualified financing occurs at a price equal to the agreed valuation cap of the convertible promissory notes, Agronomics will have an equity interest of 5.9% of issued shares following conversion and would value Agronomics' position at GBP13.4 million.
Current stock price: 14.00 pence, up 2.8% on Wednesday
Year-to-date change: up 17%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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