Shareholders in US land-based salmon producer AquaBounty have approved a measure designed to allow the company to retain its listing on Nasdaq Capital Market stock exchange, a key factor in the company's ability to raise additional capital.
In September, AquaBounty called on its shareholders to approve a reverse stock split, warning a potential delisting would materially adversely affect the company's ability to raise additional capital and potentially threaten its future as a going concern.
On Oct. 12, the company’s stockholders approved the reverse stock split of the company’s common stock, in a bid to boost the share price and minimize the risk of being delisted.
