Welcome to our dedicated page for Aquabounty Technologies news (Ticker: AQB), a resource for investors and traders seeking the latest updates and insights on Aquabounty Technologies stock.
AquaBounty Technologies, Inc. (NASDAQ: AQB) is a pioneering company in the field of land-based aquaculture, dedicated to enhancing the productivity and sustainability of seafood farming through advanced technology. Established in 1991, AquaBounty operates from offices in Maynard, Massachusetts, USA, and Fortune, Prince Edward Island, Canada. The core mission of AquaBounty is to ensure a sustainable and reliable supply of high-quality Atlantic salmon, addressing critical production constraints in popular farmed species.
At the forefront of modern bioscience, AquaBounty utilizes innovative genetic and technological advancements to spur responsible aquaculture practices. The company's vertically integrated operations encompass everything from broodstock to grow-out, leveraging decades of expertise in fish breeding, genetics, and health and nutrition. AquaBounty’s land-based Recirculating Aquaculture System (RAS) farms, including facilities in Indiana and Prince Edward Island, are designed to prevent disease and protect wild fish populations, contributing to a reduced carbon footprint and eliminating pollution risks associated with traditional sea-cage farming.
Despite facing financial challenges, including a significant decline in revenue and an increase in net loss in recent quarters, AquaBounty remains committed to its mission. Recent developments include pausing construction on a new farm in Pioneer, Ohio, due to increased costs, and exploring alternative financing solutions. Additionally, the company announced a 1-for-20 reverse stock split to comply with Nasdaq Capital Market requirements and plans to sell its Indiana farm to bolster liquidity and finance the completion of the Ohio farm.
With ongoing efforts to expand broodstock and egg production capabilities, as well as exploring partnerships and new species, AquaBounty continues to lead in the blue revolution of sustainable aquaculture. The company is also strategically leveraging its operational expertise for international expansions, aiming to address global food insecurity and climate change issues.
For the latest updates on AquaBounty Technologies, please visit their official website or follow them on social media platforms like Facebook, Twitter, LinkedIn, and Instagram.
AquaBounty Technologies, Inc. (AQB) has successfully completed an underwritten public offering of 14,950,000 shares at $8.50 per share, raising approximately $127.1 million. This figure includes the full exercise of an option for underwriters to purchase an additional 1,950,000 shares. The net proceeds will be allocated to general corporate purposes, including establishing a new production farm and bolstering sales, marketing, and R&D initiatives. Oppenheimer & Co. Inc. and Lake Street Capital Markets acted as joint book-running managers for this offering.
AquaBounty Technologies (Nasdaq: AQB) announced a public offering of 13 million shares at $8.50 each, aiming for approximately $110.5 million in gross proceeds. The offering, expected to close by February 8, 2021, includes a 30-day option for underwriters to purchase an additional 1.95 million shares. Proceeds will fund general corporate purposes, including new farm construction and R&D investments. Oppenheimer & Co. and Lake Street Capital Markets are leading the offering. A registration statement was filed with the SEC and is effective as of January 25, 2021.
AquaBounty Technologies (Nasdaq: AQB) has started an underwritten public offering of its common stock, with underwriters expecting a 30-day option to purchase more shares. The offering's success is contingent on market conditions. The funds are intended for general corporate purposes, including development of a new production farm and enhancements in sales, marketing, and R&D. A registration statement for this offering was filed with the SEC and declared effective on January 25, 2021. No assurance is provided regarding the offering's completion or terms.
AquaBounty Technologies (NASDAQ: AQB) has successfully closed an underwritten public offering of 10,028,000 common shares at $6.50 each, generating approximately $65.2 million in gross proceeds. The offering included the exercise of underwriters' option for an additional 1,308,000 shares. The funds are intended for general corporate purposes, including land acquisition, construction costs for a new production farm, and increased investment in sales, marketing, and R&D. The offering was managed by Oppenheimer & Co. Inc. and Lake Street Capital Markets.
AquaBounty Technologies (Nasdaq: AQB) has announced a public offering of 8,720,000 shares at $6.50 per share, aiming to raise approximately $56.7 million. The offering is expected to close around December 14, 2020. The funds will be used for general corporate purposes, including land acquisition, construction of a new production farm, and enhancing sales, marketing, and R&D. The company granted underwriters a 30-day option for an additional 1,308,000 shares. The offering is part of AquaBounty's strategy to increase productivity in land-based aquaculture.
AquaBounty Technologies (NASDAQ: AQB) has selected Innovasea as the Recirculating Aquaculture Systems (RAS) technology provider for its upcoming 10,000 metric ton farm, known as Farm 3. The total build cost is projected to range from $140 million to $175 million, with construction expected to start in 2021 and production anticipated by 2023. AquaBounty is exploring optimal locations for Farm 3 within Kentucky and the Midwest. The CEO emphasizes a commitment to operational milestones and the first harvest of AquAdvantage salmon, promising continued updates for shareholders.
AquaBounty Technologies has announced a proposed underwritten public offering of its common stock. The underwriters may obtain a 30-day option to purchase additional shares. Proceeds will be allocated for working capital, including the potential acquisition of land and development of a new production farm. This offering is subject to market conditions, with no assurances regarding completion or terms. Oppenheimer & Co. and Lake Street Capital Markets are managing the offering, following a shelf registration statement filed with the SEC.
AquaBounty Technologies (NASDAQ: AQB) reported its Q3 2020 results, showcasing growth in revenue to $68,000, compared to $0 in Q3 2019. The company commenced harvesting conventional Atlantic salmon at its Indiana farm, paving the way for its first AquAdvantage salmon harvest. Operating expenses rose to $3.7 million due to increased production operations. AquaBounty raised $31.6 million through a public offering to strengthen its balance sheet. The company is advancing plans for a large-scale farm in Kentucky to produce 10,000 metric tons of AquAdvantage salmon annually.
AquaBounty Technologies (Nasdaq: AQB) has selected Mayfield, Kentucky, as the site for its new large-scale aquaculture farm. This facility aims to produce 10,000 metric tons of AquAdvantage salmon annually, significantly expanding its current capacity of 1,200 metric tons in Albany, Indiana. The location was chosen after assessing around 230 potential sites based on factors including water availability and energy costs. Construction is slated to begin in 2021, with projections for commercial production to start in 2023, potentially creating 70-90 jobs in the Graves County area.
AquaBounty Technologies (Nasdaq: AQB) will participate in two investor conferences in September 2020. The events include the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16 and the Lake Street 4th Annual BIG4 Virtual Conference on September 17. CEO Sylvia Wulf will present virtually at the Wainwright conference on September 16 at 2:30 p.m. ET and will hold one-on-one meetings. AquaBounty focuses on sustainable land-based aquaculture and is known for its AquAdvantage fish program, which promotes rapid growth in salmon.
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