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Agronomics invests $2m in SuperMeat
StockMarketWire.com
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Alternative proteins investor Agronomics said it had made a US$ 2.0 million investment in SuperMeat the Essence of Meat.
SuperMeat was founded in 2015, as one of the first cultivated meat companies to emerge in the field of cellular agriculture, the company said.
The investment in the form of a simple agreement for future equity would convert at a price per share reflecting the lower of the valuation cap or at a 25% discount to the share price of SuperMeat's next equity round.
'We expect that upon conversion of the SAFE at the completion of SuperMeat's next equity fundraise , and assuming that it will be done at a pre-money valuation of US$ 150 million, Agronomics will hold approximately 2.22% of SuperMeat's fully diluted share capital,' the company said.
At 9:51am: (LON:ANIC) share price was 0p at 6p
Story provided by StockMarketWire.com
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