Agronomics Limited (LON: ANIC) has informed about an additional investment of US$1 Million in VitroLabs.
- The company has stated that it completed a further subscription of US$ 1 million in the form of a Simple Agreement For Future Equity (SAFE) in VitroLabs, Inc.
- The subscription will increase the company’s existing potential equity position of 3.79 per cent to 6.15 per cent.
- The increase in equity position is though subject to conversion at the valuation cap of US$ 25 million at the time of VitroLab’s Series A funding round.
- The company had completed its first subscription of US$ 1.5 million on 17 October 2019, In VitroLab, the lab-grown leather company.
- On 13th February 2020, at the time of writing, GMT 08:05 AM, ANIC shares were trading at GBX 7.59, down by 0.035 points or 0.46% against the previous day closing price.