Business
Additional Participation in BlueNalu Fundraise
Additional Participation in BlueNalu Fundraise.
About this update from Agronomics Limited
[{"type":"text","content":"\n \nRNS Number : 3540X Agronomics Limited 19 December 2019 \n\n19 December 2019\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \nAgronomics Limited\n \n(\"Agronomics\" or the \"Company\")\n \nAdditional Participation in BlueNalu, Inc. Series A Fundraise\n \nAgronomics is pleased to announce it has today completed a further subscription of US $1,999,998.00 for 108,108 Series A Preferred Shares (the \"Subscription\") in BlueNalu, Inc. (\"BlueNalu\"). This Subscription will increase Agronomic's existing interest to 6.0% (reducing to 5.9% on the expected closing of the ongoing Series A $20m round fully subscribed), accounting for the existing investment of US$ 749,990, that Agronomics made on 29 August 2019 in an earlier close of BlueNalu's Series A fundraise, and Agronomics' Seed investment of US $250,000 in August 2018. \n \nThe Company now holds 192,005 shares of BlueNalu, comprising 43,357 Seed Preferred Shares and 148,648 Series A Preferred Shares, with a book value of US $3,552,111. \n \nDuring BlueNalu's live product demonstration on 10th December 2019, Lou Cooperhouse, BlueNalu's President & CEO commented: -\n \n\"Our team has successfully produced whole-muscle portions of yellowtail fish fillet, derived directly from fish cells, in which our product performs the same way as a conventional fish fillet in all cooking applications. Our medallions of yellowtail can be cooked via direct heat, steamed or even fried in oil; can be marinated in an acidified solution for applications like poke, ceviche, and kimchi, or can be prepared in the raw state. This is an enormous accomplishment, and we don't believe that any other company worldwide has been able to demonstrate this level of product performance in a whole-muscle seafood product thus far\". \n \nLinks to the press release, and photos from the event can be found at https://www.bluenalu.com/pr-121719\n \nAs the Subscription is considered a Substantial Transaction under AIM rules, this announc...