GM salmon farmer closes IPO to raise over $65 million

editorial staff

AquaBounty wraps up hunt for cash.

Last week the GM salmon farmer AquaBounty wrote that it commenced a public offering of common stock to fund a third site.

On Tuesday in a statement, it posted the closing of its previously announced underwritten public offering of 10,028,000 shares of common stock at a price to the public of USD 6.50 per share.

The gross proceeds to AquaBounty from the offering are approximately USD 65.2 million.

This will be for “general corporate purposes, including for the purchase of land and the payment of costs associated with the construction or site development for a new production farm,”. it said.

The new site called “Farm 3″(yet to be determined) will in Kentucky, USA, (10,000 tonnes-a-year) adding to facilities in Indiana, and Prince Edward Island, Canada.

The total build cost for “Farm 3” will be in the range of USD 140 to USD 175 million.


Related Articles