Blue Star Foods Secures Additional Non-Dilutive Growth Capital To Support Expansion Of Business Under Existing Master Service Agreement & Soft Shell Crab Operations
Portfolio Pulse from Benzinga Newsdesk
Blue Star Foods Corp. (BSFC) has secured additional non-dilutive funding to support expansion in its soft shell crab operations and to meet increased demand under its Master Service Agreement. The company issued a promissory note and shares to an accredited investor, and a convertible promissory note to an institutional investor. CEO John Keeler expressed confidence in the company's growth and its efforts to remain NASDAQ-listed, following NASDAQ's conditional approval for continued listing.
April 17, 2024 | 3:01 pm
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POSITIVE IMPACT
Blue Star Foods has secured additional funding to expand its operations, issued promissory notes and shares, and received NASDAQ's conditional approval for continued listing.
The additional funding and NASDAQ's conditional approval for continued listing are positive developments for BSFC. The funding will support operational expansion and meet increased demand, potentially boosting revenue and profitability. NASDAQ's conditional approval also alleviates concerns about the company's listing status, which can positively influence investor confidence and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100