AquaBounty Technologies, Inc. Announces Proposed Public Offering of Common Stock
August 06 2020 - 4:45PM
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 common
stock of the Company. In addition, the Company expects to grant the
underwriters of the offering a 30-day option to purchase additional
shares of common stock at the public offering price, less
underwriting discounts and commissions. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Oppenheimer & Co. Inc. and Lake Street
Capital Markets, LLC are acting as joint book-running managers for
this offering. National Securities Corporation, a wholly owned
subsidiary of National Holdings Corporation (NASDAQ: NHLD), is
acting as co-manager for the offering. The Company currently
intends to use the net proceeds of this offering for working
capital costs and general corporate purposes, including potentially
purchasing land and towards costs associated with the construction
or site development for a new production farm.
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 April 27,
2018. A preliminary prospectus supplement describing the terms of
the offering will be filed with the SEC and will form a part of the
effective registration statement. Copies of the preliminary
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 EquityProspectus@opco.com; 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 syndicate@lakestreetcm.com;
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 jurisdiction in which
such an offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About AquaBounty
AquaBounty Technologies, Inc. is a leader in the
field of land-based aquaculture and the use of technology for
improving its productivity and sustainability. The Company’s
objective is to ensure the availability of high-quality seafood to
meet global consumer demand while addressing critical production
constraints in the most popular farmed species.
The Company’s AquAdvantage fish program is based
upon a single, specific molecular modification in fish that results
in more rapid growth in early development. With aquaculture
facilities located in Prince Edward Island, Canada, and Indiana,
USA, AquaBounty is raising its disease-free, antibiotic-free salmon
in land-based recirculating aquaculture systems, offering a reduced
carbon footprint and no risk of pollution of marine ecosystems as
compared to traditional sea-cage farming.
Forward-Looking Statements
This press release contains “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995, as amended, that involve significant risks and
uncertainties about AquaBounty, including but not limited to
statements with respect to the completion, timing, size, and use of
proceeds of the proposed underwritten offering of common stock.
AquaBounty may use words such as “expect,” “anticipate,” “project,”
“intend,” “plan,” “aim,” “believe,” “seek,” “estimate,” “can,”
“focus,” “will,” and “may” and similar expressions to identify such
forward-looking statements. Among the important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements are risks relating to, among other
things, whether or not AquaBounty will be able to raise capital,
the final terms of the underwritten offering of common stock,
market and other conditions, the satisfaction of customary closing
conditions related to the underwritten offering of common stock,
AquaBounty’s business and financial condition, and the impact of
general economic, public health, industry or political conditions
in the United States or internationally. For additional disclosure
regarding these and other risks faced by AquaBounty, see
disclosures contained in AquaBounty’s public filings with the SEC,
including the “Risk Factors” in the company’s Annual Report on Form
10-K, Quarterly Reports on Form 10-Q, and prospectus supplement for
this offering. You should consider these factors in evaluating the
forward-looking statements included in this press release and not
place undue reliance on such statements. The forward-looking
statements are made as of the date hereof, and AquaBounty
undertakes no obligation to update such statements as a result of
new information, except as required by law.
Contact
AquaBounty Technologies, Inc.Dave Conley,
Director of Communications+1 613 294 3078
AquaBounty Technologies (NASDAQ:AQB)
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