Atlantic Sapphire seeks to raise another $9.5m
Shareholders who missed out in private placement are offered chance to increase stake
Florida land-based salmon farmer Atlantic Sapphire is aiming to raise NOK 100 million (US $9.55m) with an offering of 20 million new shares to existing shareholders.
The shares are being offered at a subscription price of NOK 5.00 to shareholders who were not allocated shares in a recent private placement that raised gross proceeds of NOK 595m. The subscription price is the same as it was in the private placement.
The subscription period opened today and will close on 28 April.
Nordlaks
Significant investors in the private placement earlier this year included Norwegian salmon farmer Nordlaks, which bought shares worth $10m, and Strawberry Equities AS ($6.5m).
Blue Future Holding AS, part of the German EW Group that owns salmon ova supplier AquaGen and tilapia breeding specialist GenoMar, was allocated 10,000,000 shares for NOK 50m, as was property company Joh Johannson Eiendom AS.
Atlantic Sapphire grows salmon at its Bluehouse facility in Homstead, Miami-Dade County, and is working towards steady state production of 9,500 gutted weight tonnes annually by the third quarter of this year.
A second phase that is under construction will increase output to 25,000 gwt, and the company’s eventual aim is to produce around 200,000 gwt annually at the site.
