November 6, 2019
Agronomics Ltd announced a convertible loan note in Shiok Meats, a cultured shrimp start-up in Singapore. The USD 500,000 subscription will give UK-based Agronomics approximately 2.3% interest in Shiok Meats. The company which focuses on opportunities within the cellular agriculture industry said the loan will be paid from existing cash resources. It will later convert into ordinary shares on completion of a Series A funding of USD 100 million in Shiok Meats, after which its valuation is expected to go up.