Agronomics has announced it has conditionally raised £10.0m gross from an equity issue at a price of 6.0p, which represents a 6.8% premium to the most recently reported NAV per share of 5.62p. Assuming the company's post-raise cash balance is £8.15m, after repaying a £1.9m bridging facility, we estimate the new NAV per share to be c5.7p. We see significant potential in the cultivated meat sector and believe Agronomics is well positioned to support this developing sector and generate strong retur ....
26 Oct 2020
Cenkos: Agronomics Ltd -- Equity raise
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Cenkos: Agronomics Ltd -- Equity raise
Agronomics Limited (ANIC:LON) | 8.0 0 1.3% | Mkt Cap: 80.8m
- Published:
26 Oct 2020 -
Author:
Chris Donnellan -
Pages:
5
Agronomics has announced it has conditionally raised £10.0m gross from an equity issue at a price of 6.0p, which represents a 6.8% premium to the most recently reported NAV per share of 5.62p. Assuming the company's post-raise cash balance is £8.15m, after repaying a £1.9m bridging facility, we estimate the new NAV per share to be c5.7p. We see significant potential in the cultivated meat sector and believe Agronomics is well positioned to support this developing sector and generate strong retur ....