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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.
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.
Agronomics shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Agronomics shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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