AquaBounty completes NASDAQ listing; raises $25 million in new funds

The proceeds will be used to boost production of its GM fish in Panama, the purchase of an existing facility in North America and the construction of a new one.

Genetically modified (GM) salmon producer AquaBounty Technologies on Thursday said it completed its listing on the NASDAQ stock market, and raised $25 million (€22.6 million) from an equity subscription from Intrexon Corporation, its majority shareholder.

The fundraising will provide ongoing working capital and investment requirements to progress the company's strategy.

Judge orders FDA to submit documents in GM salmon suit

Read more
Specifically, management is evaluating several paths to revenue generation that follow different timelines, including production of AquAdvantage fish at its existing farm in Panama, purchase of an existing production facility in North America, and construction of a new production facility in North America.

"AquaBounty's listing on NASDAQ represents an important milestone for the company that will broaden our exposure to the US markets as we advance plans for commercial production of our pioneering, environmentally responsible approach to fish farming," said Ronald Stotish, chief executive officer of AquaBounty. 

---

For more seafood news and updates, follow us on Facebook and Twitter or sign up for our daily newsletter.