Clean Seas arranged a placement of 7.5 million shares at $0.55 ($0.42/€0.33) each, and 7.5 million converting notes at the same price, to what the company called sophisticated and professional investors, Australian Business News reported.
Cartesian Capital Pty Ltd. acted as lead manager and Lonsec Ltd. as broker to the issue, which was approved by shareholders on Oct. 23.
Cartesian proposed to sell 1.6 million Clean Seas shares and 1.6 million converting notes currently held by the vendors of the South Australian Aquaculture Management (SAAM) kingfish business, the report said.
