The aquaculture technology companyAquaBounty Technologies, Inc. announced that it has launched an underwritten public offering with which expects to raise around USD 12 million.
The public offering consists of a total of 3,692,307 ordinary shares, along with warrants to buy up to 3,692,307 ordinary shares of the company.
The price of the public offering is USD 3.25 per share, and AquaBounty expects the offering to end on January 17.
The company intends to invest the money it collects in its construction and renovation projects for its existing facilities in Rollo Bay and Indiana, and hopes to raise its first batches of fish in its farms in Indiana and Rollo Bay.In addition, it pursues general corporate objectives, such as investment in sales, marketing, research and development, as well as the coverage of general and administrative expenses.
AquaBounty is a subsidiary of Intrexon Corporation,which is its main shareholder.
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