Just 18% of shares sold for Atlantic Sapphire’s latest offer

Editorial Staff

Land-based salmon farming pioneer Atlantic Sapphire has announced that it raised $2.4 million in a recent sale of company shares.

The Miami-based company shared preliminary results from the sale, which involved offering up to 100 million new shares at a price of NOK 140 each. The subscription period for this offering ended on November 3, 2023.

Atlantic Sapphire received subscriptions for 18,768,245 of these shares, representing just 18 percent of the total shares available for sale, which were worth $12.7 million in total. In September, the company had raised $63.6 million in an earlier share sale.

Subscribers who applied for shares before a specific date have the option to withdraw their applications until November 7, 2023.

The company has faced challenges in its salmon production this year, with output expected to be 30 percent lower than last year and 12 percent less than in 2021.

Last week, founder and CEO Johan Andreassen announced his departure from the company.

Atlantic Sapphire CEO Johan Andreassen resigns



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