Agronomics completes share issue

AIM-listed cellular agriculture firm Agronomics (LON:ANIC) has completed an oversubscribed share issue raising an additional £10 million. The additional funds will be used for further investments after the company expanded its holdings earlier this year.

Non-Executive Chairman Richard Reed commented: “The Board is extremely pleased to have raised a significant amount of funding to accelerate Agronomics growth and the still nascent field of cellular agriculture. With these funds, we will be able to continue to support some of the most exciting companies in sector that are already in our portfolio, as well as look to invest in new opportunities. In this round, we are glad to welcome new top tier institutional investors onto our register who are well placed to support us in our growth plans well into the future”.

Shares in the company dropped by 4.53% to 6.11p (as of 11:50 BST).