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AquaBounty Technologies, Inc. Announces Pricing of $110.5 Million Public Offering of Common Stock
MAYNARD, Mass., Feb. 04, 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. 04, 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 pricing of its previously announced underwritten public offering of 13,000,000 shares of common stock of the Company at a price to the public of $8.50 per share. AquaBounty expects to receive aggregate gross proceeds of approximately $110.5 million from the offering. In addition, the Company has granted the underwriters of the offering a 30-day option to purchase up to 1,950,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about February 8, 2021, subject to customary closing conditions. Oppenheimer & Co. Inc. and Lake Street Capital Markets, LLC are acting 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 our 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 preliminary prospectus supplement describing the terms of the offering has been filed with the SEC 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 a...