Aquabounty Technologies Inc Stock Price, News & Analysis

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.

AquaBounty Technologies (Nasdaq: AQB) announced the closing of a sale of 1.65 million shares at $2.50 each, generating approximately $4.125 million in gross proceeds. This sale followed a previous public offering of 11 million shares on August 11, 2020, which raised total gross proceeds of around $31.625 million. The funds will support working capital, corporate expenses, and possibly land purchases for a new production farm. The offering was managed by Oppenheimer & Co. Inc. and Lake Street Capital Markets, LLC.

AquaBounty Technologies (Nasdaq: AQB) announced the pricing of an underwritten public offering of 11,000,000 shares of common stock at $2.50 per share, expecting gross proceeds of approximately $27.5 million. The underwriters have a 30-day option to purchase up to 1,650,000 additional shares. The offering will close around August 11, 2020, pending customary conditions. Proceeds will be used for working capital and possibly for land acquisition and new production farm development. Oppenheimer & Co. and Lake Street Capital are joint book-running managers for the offering.

AquaBounty Technologies (Nasdaq: AQB) has announced a proposed underwritten public offering of common stock. The offering includes a potential 30-day option for underwriters to purchase additional shares. Funds raised will be directed towards working capital and corporate purposes, particularly for land acquisition and construction of a new production farm. The offering is subject to market conditions and no assurance is provided regarding its completion. Oppenheimer & Co. and Lake Street Capital Markets are managing the offering.

AquaBounty Technologies, Inc. (AQB) reported its Q2 2020 financial results, highlighting the first harvest of conventional Atlantic salmon from its Indiana farm. The company aims to ramp up salmon harvests to 100 metric tons monthly by early 2021. AquaBounty secured a $4 million loan for capital improvements and is working on a 10,000 metric ton farm project. Financially, the company had $10 million in cash at the end of June 2020, with a net loss of $6.6 million, or $0.22 per share, improving from the previous year's loss of $6.8 million.

AquaBounty Technologies (NASDAQ: AQB) has initiated the commercial-scale harvest of conventional Atlantic salmon at its Indiana farm, a milestone validating its land-based Recirculating Aquaculture System (RAS). This strategic location ensures efficient delivery to U.S. markets. The farm aims to ramp up harvest to 100 metric tons monthly by early 2021, with an annual capacity of 1,200 metric tons. The company also plans its first commercial harvest of genetically engineered AquAdvantage Salmon in Q4 2020. AquaBounty is the only provider of genetically engineered Atlantic salmon approved by U.S. and Canadian authorities.

AquaBounty Technologies (NASDAQ: AQB) will present at the June 2020 Virtual Investor Summit from June 9-12, 2020. Management's presentation is scheduled for June 10 at 2:10 p.m. ET. The event will showcase AquaBounty's advancements in land-based aquaculture, aiming to enhance sustainability and productivity. The company is recognized for its AquAdvantage salmon, which has received FDA and Health Canada approval as a bioengineered protein. The presentation is public, but one-on-one meetings require an invitation and advance registration.

AquaBounty Technologies (AQB) reported a corporate update and financial results for Q1 2020. The company is on track for conventional Atlantic salmon harvest in June 2020 and AquAdvantage salmon harvest in Q4 2020. With over 300 metric tons of fish in its farms, AquaBounty's cash and cash equivalents rose to $14.7 million due to a public offering, despite a net loss of $3.1 million. Total operating cash usage increased to $2.9 million, alongside heightened general and administrative expenses, reflecting strategic management enhancements.