Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
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%.
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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