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Atlantic Sapphire secures $65 million for salmon farming operations

Salmon farming company Atlantic Sapphire has announced that it’s raised an additional US$65 million in funding.

The company said on Sept. 19 that it carried out a conditional private placement of over 501 million new shares at NOK 1.40 (US$0.13) per share.

The private placement is in two portions: the first consists of 55 million shares and the second portion is over 446 million shares.

According to details outlined in its notice of extraordinary general meeting, “The net proceeds from the Private Placement will be utilized to reach an estimated EBITDA break-even for Phase 1 of the Group’s Bluehouse in Homestead, Florida, in the first half of 2024, and with a cash buffer.”