Agronomics (LON: ANIC) said on Thursday that it has purchased a further 117 shares, worth €195,632, in existing portfolio company Meatable.
Meatable is a Dutch cultivated meat company founded in 2018 that aims to deliver, at scale, lab-grown meat that looks, tastes like, and has the nutritional profile of traditional meat.
The cultivated meat sector has seen rapid growth, with around $170 million invested in the industry between 2016 to 2019 and $270 million raised in 2020.
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Agronomics now holds 4,859 shares in Meatable, representing an equity ownership of 5.84%
The additional acquisition will allow Agronomics to carry this position in its accounts at a book value of €8.15 million, representing an unrealised gain on cost of €2.95 million, following Meatable’s completion of its $47 million Series A financing announced in March 2021.
Shares of Agronomics are trading 1.68% above Wednesday’s close at 24.4p. It follows a large fall on Tuesday that saw its shares lose over 29.7% in value after it announced a conditional subscription and placing to raise a minimum of £50 million.
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