PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Agronomics acquires stake in Geltor via secondary transaction

Agronomics, a listed company focused on cellular agriculture, has acquired 1,069,593 Preferred Stock in a secondary transaction in Geltor, a company focused on producing designer proteins for use in the cosmetic industry, from an existing shareholder, for total consideration of USD9,499,525.

This represents an equity stake in Geltor, on a fully diluted basis, of 2.05 per cent and equates to an estimated portfolio weighting based on the Company’s last reported Net Asset Value of 5.01 per cent.
 
The consideration due to the vendor comprises USD6,785,375 in cash from the Company’s own resources and USD2,714,150 to be satisfied through the issuance of 8,676,951 new Ordinary Shares in Agronomics (Consideration Shares) priced at 23 pence per share. 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured