AquaBounty Technologies, Inc. Announces Pricing of the Public Secondary Offering of Common Stock by Selling Stockholders
November 18 2021 - 9:30PM
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 the previously announced underwritten public secondary
offering of 11,200,000 shares of its common stock by certain
selling stockholders affiliated with Third Security (the “Selling
Stockholders”) at a price to the public of $2.10 per share. In
addition, the Selling Stockholders have granted the underwriters of
the offering a 30-day option to purchase up to 1,680,000 additional
shares of common stock at the public offering price, less
underwriting discounts and commissions. AquaBounty is not selling
any shares in the offering, nor will AquaBounty receive any of the
proceeds from the sale of the shares being offered by the Selling
Stockholders. The Selling Stockholders will bear the costs
associated with the sale of such shares, including underwriting
discounts and commissions. The offering is expected to close on or
about November 23, 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.
A registration statement on Form S-3 (including a
prospectus and a preliminary prospectus supplement describing the
offering) 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 August 19, 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 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. (NASDAQ: AQB) is a
leader in aquaculture leveraging decades of technology expertise to
deliver game changing solutions that solve global problems, while
improving efficiency, sustainability and profitability. AquaBounty
provides fresh Atlantic salmon to nearby markets by raising its
fish in carefully monitored land-based fish farms through a safe,
secure and sustainable process. The Company’s land-based
Recirculating Aquaculture System (“RAS”) farms, located in Indiana,
United States and Prince Edward Island, Canada, are close to key
consumption markets and are designed to prevent disease and to
include multiple levels of fish containment to protect wild fish
populations. AquaBounty is raising nutritious salmon that is free
of antibiotics and other contaminants and provides a solution
resulting in a reduced carbon footprint and no risk of pollution to
marine ecosystems as compared to traditional sea-cage farming. For
more information on AquaBounty, please visit www.aquabounty.com or
follow us on Facebook, Twitter, LinkedIn and Instagram.
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, and size 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.
Company Contact:
AquaBounty Technologies, Inc. Dave Conley, Director
of Communications +1 613 294 3078
Investor Relations:
Greg Falesnik MZ Group - MZ North America+1 949 259
4987AQB@mzgroup.us
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