Agronomics Limited, a leading listed company focused on cellular agriculture, has announced its unaudited Net Asset Valuation ("NAV") per share as of 31 March 2024, showing an increase to 16.98 pence per share from 16.90 pence per share at 31 December 2023. The company's net assets were reported at £171 million, including investments of £153 million and uninvested cash and short-term deposits of £19 million.

The share price at the 31 March 2024 close represented a discount of 48% to the NAV per share. Jim Mellon, Chair of Agronomics, expressed delight in the progress made by the company's portfolio during the quarter, citing successful funding rounds for companies like Meatable, Clean Food Group, and Liberation Labs. He emphasized the industry-leading quality of the companies within their portfolio and their anticipation of continued growth and commercial development.

Agronomics also reported a strong cash balance and no intention to raise capital, while trading at a discount to NAV. The company issued 1,659 new ordinary shares following the exercise of warrants, receiving gross proceeds of £498. During the period, no fees were payable or accrued relating to the Shellbay Investments Limited Agreement.

The company's investment review highlighted positive revaluations and strategic partnerships formed by portfolio companies, including Bond Pet Foods, California Cultured Inc., Shiok Meats Pte. Ltd., Good Dog Food Ltd, Formo Bio GmbH, SuperMeat The Essence of Meat Ltd, Clean Food Group Ltd, and Onego Bio Ltd. The Board also noted that VitroLabs Inc is undergoing substantial restructuring and fundraising, which may require a significant write-down.

The unaudited financials as of 31 March 2024 showed current assets of £172,872,683, including investments and uninvested cash and deposits, and net assets of £171,396,764. The company's net asset value per share was reported at 16.98 pence.

In conclusion, Agronomics Limited's latest report demonstrates a positive increase in net asset value, successful funding rounds for portfolio companies, and a strong cash balance, positioning the company for continued growth and development in the field of cellular agriculture.