CORRECTION - Agronomics Invests US$ 2m in Liberation Labs
Agronomics (LSE:ANIC) has invested US$ 2 million in Liberation Labs Holdings Inc.'s US$ 3.5 million fundraise via a Secured Promissory Note. The note pays 10% interest annually and matures on October 10, 2027. It will convert into the same instrument and terms as Liberation Labs' intended Series A round, which aims to raise a minimum of US$ 37.5 million.
Agronomics has now invested a total of US$ 19.6 million in Liberation Labs, holding a 37.5% stake on a fully diluted basis. The investment is currently valued at £25.7 million, representing about 15.9% of Agronomics' last stated Net Asset Value. Liberation Labs, an early-stage company, has no revenues, monthly operating costs of US$ 0.4 million, and total assets of US$ 49.5 million as of June 30, 2024.
Agronomics (LSE:ANIC) ha investito 2 milioni di dollari USA nel fundraise di 3,5 milioni di dollari USA di Liberation Labs Holdings Inc. tramite un Nota di Pagamento Garantita. La nota paga un interesse del 10% annuo e scade il 10 ottobre 2027. Si convertirà nello stesso strumento e termini del previsto round di Serie A di Liberation Labs, che mira a raccogliere un minimo di 37,5 milioni di dollari USA.
Agronomics ha ora investito un totale di 19,6 milioni di dollari USA in Liberation Labs, detenendo una parte del 37,5% su base completamente diluita. L'investimento è attualmente valutato 25,7 milioni di sterline, rappresentando circa 15,9% dell'ultimo valore netto degli attivi dichiarato da Agronomics. Liberation Labs, un'azienda in fase iniziale, non ha ricavi, costi operativi mensili di 0,4 milioni di dollari USA e attivi totali di 49,5 milioni di dollari USA al 30 giugno 2024.
Agronomics (LSE:ANIC) ha invertido 2 millones de dólares EE. UU. en la recaudación de fondos de 3,5 millones de dólares EE. UU. de Liberation Labs Holdings Inc. a través de una Nota Promisoria Garantizada. La nota paga un interés del 10% anual y vence el 10 de octubre de 2027. Se convertirá en el mismo instrumento y términos que el previsto ronda Serie A de Liberation Labs, que tiene como objetivo recaudar un mínimo de 37,5 millones de dólares EE. UU..
Agronomics ha invertido un total de 19,6 millones de dólares EE. UU. en Liberation Labs, manteniendo una participación del 37,5% en una base totalmente diluida. La inversión está actualmente valorada en 25,7 millones de libras esterlinas, lo que representa aproximadamente 15,9% del último Valor Neto de Activos declarado por Agronomics. Liberation Labs, una empresa en etapa inicial, no tiene ingresos, costos operativos mensuales de 0,4 millones de dólares EE. UU., y activos totales de 49,5 millones de dólares EE. UU. al 30 de junio de 2024.
Agronomics (LSE:ANIC)는 Liberation Labs Holdings Inc.의 350만 달러 모금에 200만 달러를 투자했습니다. 이는 보장된 약속어음(Security Promissory Note)을 통해 이루어졌습니다. 이 어음은 연 10%의 이자를 지불하며, 2027년 10월 10일에 만료됩니다. 이는 Liberation Labs의 예정된 시리즈 A 라운드와 동일한 조건으로 전환될 것이며, 최소 3750만 달러를 모금하는 것을 목표로 하고 있습니다.
Agronomics는 현재 Liberation Labs에 총 1960만 달러를 투자하였으며, 완전 희석 기준으로 37.5%의 지분을 보유하고 있습니다. 이 투자는 현재 2570만 파운드로 평가되며, Agronomics의 마지막으로 보고된 순자산 가치의 약 15.9%를 차지합니다. Liberation Labs는 초기 단계의 기업으로 수익이 없으며, 월 운영비는 40만 달러이고, 2024년 6월 30일 기준으로 총 자산은 4950만 달러입니다.
Agronomics (LSE:ANIC) a investi 2 millions de dollars US dans la levée de fonds de 3,5 millions de dollars US de Liberation Labs Holdings Inc. via un billet promis garanti. Le billet paie 10 % d'intérêt par an et arrive à échéance le 10 octobre 2027. Il sera converti dans le même instrument et aux mêmes conditions que le prochain tour de série A de Liberation Labs, qui vise à lever un minimum de 37,5 millions de dollars US.
Agronomics a maintenant investi un total de 19,6 millions de dollars US dans Liberation Labs, détenant une participation de 37,5 % sur une base entièrement diluée. L'investissement est actuellement évalué à 25,7 millions de livres sterling, représentant environ 15,9 % de la dernière valeur nette d'actif déclarée par Agronomics. Liberation Labs, une entreprise en phase de démarrage, n'a pas de revenus, des coûts opérationnels mensuels de 0,4 million de dollars US et des actifs totaux de 49,5 millions de dollars US au 30 juin 2024.
Agronomics (LSE:ANIC) hat 2 Millionen US-Dollar in die Fundraising-Aktion von 3,5 Millionen US-Dollar von Liberation Labs Holdings Inc. in Form einer besicherten Schuldanerkenntnis investiert. Die Anleihe zahlt 10% Zinsen jährlich und fälllg am 10. Oktober 2027. Sie wird in dasselbe Instrument und dieselben Bedingungen wie die geplante Serie-A-Runde von Liberation Labs umgewandelt, die darauf abzielt, mindestens 37,5 Millionen US-Dollar zu sammeln.
Agronomics hat nun insgesamt 19,6 Millionen US-Dollar in Liberation Labs investiert und hält eine 37,5%ige Beteiligung auf voll verwässerter Basis. Die Investition wird derzeit mit 25,7 Millionen Pfund bewertet, was etwa 15,9% des zuletzt angegebenen Nettovermögenswerts von Agronomics entspricht. Liberation Labs, ein Unternehmen in der Frühphase, hat keine Einnahmen, monatliche Betriebskosten von 0,4 Millionen US-Dollar und Gesamtvermögen von 49,5 Millionen US-Dollar zum 30. Juni 2024.
- Agronomics increased its investment in Liberation Labs by US$ 2 million
- Liberation Labs has signed letters of intent representing over 200% of available capacity for initial years of operations
- Agronomics now holds a 37.5% stake in Liberation Labs on a fully diluted basis
- The investment is valued at £25.7 million, representing 15.9% of Agronomics' last stated Net Asset Value
- Liberation Labs is an early-stage company with no revenues
- Liberation Labs has monthly operating costs of approximately US$ 0.4 million
- Liberation Labs has liabilities of US$ 43.8 million as of June 30, 2024
The following amendment has been made to the 'Agronomics invests US
The announcement released at 7.00am on 15 October 2024 should not have included any reference to the US Department of Defense US
All other details remain unchanged.
The full amended text is shown below.
Agronomics invests US
DOUGLAS, ISLE OF MAN / ACCESSWIRE / October 15, 2024 / Agronomics (LSE:ANIC) ("Agronomics" or the "Company"), a leading listed company in the field of cellular agriculture, reports that portfolio company Liberation Labs Holdings Inc. ("Liberation Labs") has raised a further US
The Note, a form of convertible debt, is for financing the continued construction of its facility in Richmond, Indiana in advance of Liberation Labs' intended Series A round (a "Qualified Financing") as set out in the 5 April 2024 announcement. The Notes will convert into the same instrument and terms as the Qualified Financing and are anticipated to raise a minimum of US
Agronomics' Executive Chair Jim Mellon commented:
"In 2020, McKinsey estimated that approximately
Since the US
Including this Note, Agronomics has invested US
The following have each subscribed US
About Liberation Labs
Liberation Labs is commercializing precision fermentation with a global network of purpose-built manufacturing facilities that enable the next wave of biotechnology advancements to produce bio-based consumer products at scale. We combine modern technology with fit-for-purpose design to bring reliable and cost-effective solutions that meet customer demand across the world. More information is available at www.liberationlabs.com.
About Agronomics
Agronomics is a leading London-listed company focussing on investment opportunities within the field of cellular agriculture. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals and improve food security for the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.
For further information please contact:
Agronomics Limited | Beaumont Cornish Limited | Canaccord Genuity Limited | Cavendish Capital Markets Limited | Peterhouse Capital Limited | SEC Newgate |
The Company | Nomad | Joint Broker | Joint Broker | Joint Broker | Public Relations |
Jim Mellon Denham Eke | Roland Cornish James Biddle | Andrew Potts Harry Pardoe Alex Aylen (Head of Equities) | Giles Balleny Michael Johnson Charlie Combe | Lucy Williams Charles Goodfellow | Bob Huxford Anthony Hughes |
+44 (0) 1624 639396 info@agronomics.im | +44 (0) 207 628 3396 | +44 (0) 207 523 8000 | +44 (0) 207 397 8900 | +44 (0) 207 469 0936 | agronomics@secnewgate.co.uk |
Nominated Adviser
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Agronomics Limited
View the original press release on accesswire.com
FAQ
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