Business
AquaBounty Technologies, Inc. Announces Closing of $127.1 Million Public Offering of Common Stock, Including Full Exercise of Overallotment Option
MAYNARD, Mass., Feb. 08, 2021 (GLOBE NEWSWIRE) -- AquaBounty Technologies, Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture
About this update from Aquabounty Technologies, Inc.
[{"type":"text","content":"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 expenses. 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 www.sec.gov. 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 [email protected]; 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 [email protected]; or at the SEC’s website at http://www.sec.gov. 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 jurisdict...