AquaBounty slumps on stock offering

Aquabounty Technologies

04/02/2021 14:24

** Shares of AquaBounty  AQB.O  down ~12% premarket as
genetically engineered salmon grower raises equity
    ** AQB offers 13 mln shares at $8.50, ~21% discount to
stock's last sale, raises ~$110.5 mln  urn:newsml:reuters.com:*:nGNX2QsRg5
    ** Co plans to use net proceeds for general corp purposes,
including construction costs or site development for a new
production farm
    ** Oppenheimer and Lake Street Capital Markets jt
bookrunners
    ** Offering size represents ~24% of co's free float of
shares, per Refinitiv 
    ** Shares up 22% to start 2021, and have more than tripled
over the past six months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))