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AQB - AquaBounty Technologies Inc News Story

$5.32 0.1  2.7%

Last Trade - 07/05/21

Small Cap
Market Cap £270.4m
Enterprise Value £125.9m
Revenue £140k
Position in Universe 3870th / 6858

AquaBounty Technologies, Inc. Announces Closing of $127.1 Million Public Offering of Common Stock, Including Full Exercise of Overallotment Option

Mon 8th February, 2021 9:05pm
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MAYNARD, Mass., Feb. 08, 2021 (GLOBE NEWSWIRE) -- AquaBounty Technologies,
Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based
aquaculture company utilizing technology to enhance productivity and
sustainability, today announced the closing of its previously announced
underwritten public offering of 14,950,000 shares of common stock of the
Company at a price to the public of $8.50 per share, which includes the
underwriters’ full exercise of their option to purchase 1,950,000 shares at
the public offering price less underwriting discounts and commissions. The
gross proceeds to AquaBounty from the offering are approximately $127.1
million, before deducting underwriting discounts and commissions and offering

Oppenheimer & Co. Inc. and Lake Street Capital Markets, LLC acted as joint
book-running managers for this offering.

The Company currently intends to use the net proceeds of this offering for
general corporate purposes, including the payment of costs associated with the
construction or site development for a new production farm, investing further
in the Company’s sales and marketing and research and development efforts
and payments of anticipated general and administrative expenses.

A shelf registration statement on Form S-3 relating to the public offering of
the shares of common stock described above was filed with the Securities and
Exchange Commission (“SEC”) and was declared effective on January 25,
2021. A final prospectus supplement describing the terms of the offering was
filed with the SEC on February 5, 2021, and is available on the SEC’s
website at Copies of the final prospectus supplement and the
accompanying prospectus relating to the offering may be obtained, when
available, from Oppenheimer & Co. Inc. Attention: Syndicate Prospectus
Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by calling
(212) 667-8563, or by emailing; or Lake Street
Capital Markets, LLC, Attention: Syndicate Department, 920 Second Avenue
South, Suite 700, Minneapolis, Minnesota 55402, or by calling (612) 326-1305,
or by emailing; or at the SEC’s website at

This press release shall not constitute an offer to sell, or a solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.

About AquaBounty

AquaBounty Technologies, Inc. is a leader in the field of land-based
aquaculture and the use of technology for improving its productivity and
sustainability. The Company’s objective is to ensure the availability of
high-quality seafood to meet global consumer demand, while addressing critical
production constraints in the most popular farmed species.

The Company’s AquAdvantage fish program is based upon a single, specific
molecular modification in fish that results in more rapid growth in early
development. With aquaculture facilities located in Prince Edward Island,
Canada, and Indiana, USA, AquaBounty is raising its disease-free,
antibiotic-free salmon in land-based recirculating aquaculture systems,
offering a reduced carbon footprint and no risk of pollution of marine
ecosystems as compared to traditional sea-cage farming.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995, as amended, that involve
significant risks and uncertainties about AquaBounty, including but not
limited to statements with respect to the completion, timing, size, and use of
proceeds of the underwritten offering of common stock. AquaBounty may use
words such as “expect,” “anticipate,” “project,” “intend,”
“plan,” “aim,” “believe,” “seek,” “estimate,” “can,”
“focus,” “will,” and “may” and similar expressions to identify
such forward-looking statements. Among the important factors that could cause
actual results to differ materially from those indicated by such
forward-looking statements are risks relating to, among other things, whether
or not AquaBounty will be able to raise additional capital, market and other
conditions, AquaBounty’s business and financial condition, and the impact of
general economic, public health, industry or political conditions in the
United States or internationally. For additional disclosure regarding these
and other risks faced by AquaBounty, see disclosures contained in
AquaBounty’s public filings with the SEC, including the “Risk Factors”
in the company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
and prospectus supplement for this offering. You should consider these factors
in evaluating the forward-looking statements included in this press release
and not place undue reliance on such statements. The forward-looking
statements are made as of the date hereof, and AquaBounty undertakes no
obligation to update such statements as a result of new information, except as
required by law.


AquaBounty Technologies, Inc.
Dave Conley, Director of Communications
+1 613 294 3078


GlobeNewswire, Inc. 2021
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