Atlantic Sapphire seeks further $12.5 million from share offering

Editorial Staff

The new shares will be priced at NOK 1.40 – the same as those placed in September.

Land-based salmon producer Atlantic Sapphire is set to raise NOK 140 million ($12.5 million) through the issuance of 100 million new shares.

This offering follows a private placement of new shares in September, which generated NOK 702 million ($63 million).

The subsequent offering is targeted at existing shareholders who did not participate in the September placement. Each share will be priced at NOK 1.40, mirroring the September offering.

The subscription period for the Subsequent Offering began on October 23 and will conclude on November 3, 2023, with the allocation of shares expected on November 6, 2023.

Atlantic Sapphire’s Florida site has a capacity of 9,500 gutted weight tons but issues, including maintenance delays on rented chillers causing water temperature increases, have impacted production. Consequently, Q3 2023 is expected to yield only 400 gwt, with a projected 1,000 to 2,000 gwt for the second half of 2023.

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