AquaBounty Technologies Enters Asset Purchase Agreement With Superior Fresh; Superior Fresh To Acquire AQB Indiana's Aquaculture Facility And Equipment From AQB Ohio For $9.5M; Proceeds To Be Used To Reduce Secured Term Loan
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AquaBounty Technologies has entered into an asset purchase agreement with Superior Fresh. Superior Fresh will acquire AquaBounty's Indiana aquaculture facility and equipment for $9.5 million. The proceeds will be used to reduce AquaBounty's secured term loan.
July 02, 2024 | 12:14 pm
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AquaBounty Technologies has sold its Indiana aquaculture facility and equipment to Superior Fresh for $9.5 million. The proceeds will be used to reduce the company's secured term loan.
The sale of the Indiana facility for $9.5 million will provide AquaBounty with immediate liquidity to reduce its secured term loan, potentially improving its financial stability and reducing interest expenses. This is likely to be viewed positively by investors.
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