Agronomics Limited, a leading listed company focused on cellular agriculture, has reported its unaudited Net Asset Valuation ("NAV") calculation as at closing on 30 June 2024, which was 16.42 pence per share, a 3.3% decrease from 16.98 pence per share at 31 March 2024. The company's net assets stand at £166 million, including investments of £154 million and uninvested cash and short-term deposits of £12 million. The share price of 6 pence at 30 June 2024 close represents a discount of 63% to the NAV per share. The average discount to NAV per share over the last 12-month period was 43%.

Jim Mellon, Executive Chair of Agronomics, highlighted the notable progress in the company's portfolio during the quarter, including multiple new financings. Notable investments included a €40 million funding round for cultivated meat company Mosa Meat, an €8 million second close of Solar Foods' Series B round, and a further US$ 10 million investment into Liberation Labs. The sustained investment activity across a number of companies reflects the steady technical and commercial progress being made within the portfolio. The company also announced that it has no intention to raise capital while trading at a discount to NAV.

During the quarter ending 30 June 2024, the company received notification of warrants being exercised, resulting in the issuance of 1,833 new ordinary shares for proceeds of £523.03. Additionally, the company provided an investment review, detailing the additional funding raised by four of its portfolio companies during the period.

The company's unaudited financials as of 30 June 2024 show current assets of £153,589,370 in investments and £12,235,215 in uninvested cash and deposits, with net assets totaling £165,712,916. The net asset value per share is reported at 16.42 pence.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. Additionally, the company announced the exercise of warrants, resulting in the issuance of 1 Ordinary Share with a nominal value of £0.000001 each in the capital of the Company at a subscription price of 30p per Share, with gross proceeds of £0.30.

In summary, Agronomics Limited's recent report highlights its unaudited net asset value, warrant exercise, and investment review as of 30 June 2024, showcasing the company's continued progress and financial standing in the field of cellular agriculture.