Business
US$ 8 million investment in The EVERY Company
US$ 8 million investment in The EVERY Company.
About this update from Agronomics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2463R\n Agronomics Limited\n 04 November 2021\n \n \n \n \n 4th November 2021\n \n \n \n \n \n \n Agronomics Limited\n \n \n \n (\"Agronomics\" or the \"Company\")\n \n \n \n \n \n US$ 8 million investment in The EVERY Company \n \n \n in conjunction with a US$ 7 million investment from New Agrarian Company Limited\n \n \n \n \n \n Agronomics, the leading listed company focused on the field of cellular agriculture, is pleased to announce a US$ 8 million investment in The EVERY Company (\"EVERY\", formerly Clara Foods Co.), for an equity stake on a fully diluted basis of 1.39%. This equates to an estimated portfolio weighting based on the Company's last reported Net Asset Value of 5.7%. Agronomics is investing as part of a \n minimum fundraise of US$ 127.5 million undertaken by EVERY. \n \n \n EVERY is a leading precision fermentation company with a key focus on the commercialisation of proteins traditionally derived from animals. EVERY was founded in 2014 by Arturo Elizondo, with the mission to\n \n accelerate the transition to animal-free and more sustainable proteins and reduce \n \n factory farming practices\n \n . \n \n \n Jim Mellon, Non-executive Director of Agronomics commented:-\n \n \n \"We are extremely pleased to become investors in EVERY, a leader in the cellular agriculture field, with its world class precision fermentation platform. This investment broadens Agronomics' portfolio further into other major protein categories outside of meat and dairy. We are delighted to be working with Arturo to accelerate the commercialisation of animal-free egg proteins.\" \n \n \n New Agrarian Company Limited\n \n \n In conjunction with this transaction and under the guidance of the management team at Shellbay Limited, the Company's advisor, a new unquoted entity has been formed to accept funds from private equity investors seeking exposure to the field of cellular agriculture who are unable to invest in a public company, either due to restrictions within their mandate and/or internal policies preventing them from doing so. The new entity is called New Agrarian Company Limited (\"New Agrarian\"). The Company has agreed with New Agrarian to the effect that should they contemplate making an investment alongside each other in opportunities sourced by Shellbay Limited's...