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AquaBounty Technologies, Inc. Announces Proposed Public Offering of $10.0 Million of Common Stock
MAYNARD, Mass., Jan. 27, 2020 (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., Jan. 27, 2020 (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 that it has commenced a proposed underwritten public offering of $10.0 million of common stock of the Company. In addition, the Company expects to grant the underwriter of the offering a 45-day option to purchase up to an additional $1.5 million of shares of common stock to cover over-allotments, if any. All shares of common stock to be sold in the proposed offering will be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.\n Lake Street Capital Markets, LLC is acting as the sole book-running manager for the proposed offering. The Company currently intends to use the net proceeds of the proposed offering, if completed, to continue construction and renovation activities of its existing facilities in Rollo Bay and Indiana, for working capital costs associated with growing its first batches of fish at its Indiana and Rollo Bay farm sites, and for other general corporate purposes. The proposed offering will be made only by means of a prospectus. A preliminary prospectus related to and describing the terms of the proposed offering has been filed with the Securities and Exchange Commission (the “SEC”). Copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402; by calling 612-326-1305; or by emailing [email protected], or at the SEC’s website at http://www.sec.gov. A registration statement on Form S-1 (File No. 333-235919) relating to the securities to be sold in the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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 jurisdic...