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AquaBounty Stock Plunges As Equity Offering By Selling Shareholders Priced At 32% Discount

  • AquaBounty Technologies Inc (NASDAQ: AQB) has priced the public secondary offering of 11.2 million shares of its common stock by certain selling stockholders at $2.10 per share.

  • The offer price represents a 32.7% discount on the company’s closing price of $3.12 on November 18, 2021.

  • The Selling Stockholders have granted the underwriters a 30-day option to buy up to 1.6 million additional shares.

  • AquaBounty is not selling any shares in the offering and will not receive any of the proceeds.

  • The offering is expected to close on or about November 23, 2021.

  • Oppenheimer & Co. Inc. and Lake Street Capital Markets, LLC are acting as joint book-running managers for the offering.

  • Price Action: AQB shares traded lower by 27.6% at $2.26 in premarket on the last check Friday.

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