Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
An update from Atlantic Sapphire ( (AASZF) ) is now available.
Atlantic Sapphire has announced the conditional allocation of a USD 35 million convertible loan as part of a private placement to fund its operations until reaching EBITDA break-even for Phase 1. The company has engaged DNB Carnegie as an advisor and has received commitments from key insiders and external investors, ensuring the transaction is fully covered. The board has considered the transaction structure to ensure fair treatment of shareholders, despite potential dilution for non-participating shareholders, and views the convertible loan as the most viable financing option under current market conditions.
More about Atlantic Sapphire
Atlantic Sapphire is a company pioneering Bluehouse® (land-raised) salmon farming, focusing on transforming protein production globally. The company operated an innovation center in Denmark from 2011 to 2021, emphasizing R&D and innovation to scale up production near consumers. In the US, Atlantic Sapphire has the necessary permits and patents to construct its Bluehouse® facility in Homestead, Florida, aiming to increase its production capacity significantly.
Average Trading Volume: 89,846
Current Market Cap: NOK286.8M
For detailed information about AASZF stock, go to TipRanks’ Stock Analysis page.