--- title: "AquaBounty exchanges $4,000,000 of senior notes for preferred stock" url: "https://aibio.space/news/aquabounty-exchanges-4-000-000-senior-notes-preferred-stock/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-04-07" section: "Financings" tickers: "NASDAQ:AQB" source: "https://www.sec.gov/Archives/edgar/data/1603978/000160397826000036/aqb-20260407x8k.htm" summary: "A note exchange and a $500,000 preferred sale both closed April 7, 2026. Univest Securities, LLC was the placement agent for the offering." --- By the aibio.space news desk. Sources - [AquaBounty Technologies, Inc. 8-K (2026-04-08)](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000036/aqb-20260407x8k.htm) - [AquaBounty Technologies, Inc. 10-K (2026-03-31): business](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000029/aqb-20251231x10k.htm) - [AquaBounty Technologies, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000029/) [AQB](https://aibio.space/companies/aquabounty-technologies/) 2026-04-07 # AquaBounty exchanges $4,000,000 of senior notes for preferred stock Tickers [AQB](https://aibio.space/companies/aquabounty-technologies/) A note exchange and a $500,000 preferred sale both closed April 7, 2026. Univest Securities, LLC was the placement agent for the offering. ## Key facts - **Company**: AquaBounty Technologies, Inc. (NASDAQ: AQB) - **News type**: Financings - **Primary source**: [AquaBounty Technologies, Inc. 8-K (2026-04-08)](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000036/aqb-20260407x8k.htm) *A city skyline seen across a river. Photo: Matt Bango, CC0, via StockSnap. The picture shows the field, not the companies named.* AquaBounty Technologies, Inc. (Nasdaq: [AQB](https://aibio.space/companies/aquabounty-technologies/)) completed a two-part private placement on April 7, 2026, according to a Form 8-K. In the first part, the company exchanged an aggregate of $4,000,000 of principal and $315,616.44 of accrued and unpaid interest on its senior notes for 236,367 shares of Series A Convertible Preferred Stock. In the second part, it sold 27,386 Series A shares for aggregate cash consideration of $500,000. The exchange shares are convertible into up to 4,727,371 shares of common stock, and the cash-sale shares into up to 547,705 shares. ## The exchange and the cash sale The company entered into securities exchange agreements with certain holders of its senior notes and a preferred stock purchase agreement with one purchaser. The filing calls the two transactions together the Offering, and all of the agreements closed on April 7, 2026. The Series A shares were issued under the exemption in Section 4(a)(2) of the Securities Act and Regulation D. The recipients said they were accredited investors buying for investment, and the shares have not been registered. ## The terms of the Series A shares The Series A Preferred Stock ranks senior to the common stock for dividends and for liquidation. Dividends accrue at 18.0% per annum, paid quarterly in arrears on the Liquidation Value. They are payable in cash when declared on a bi-annual schedule, at the end of October and April, and the board may let them accumulate. The Liquidation Value is $18.2580 per share. Holders may convert at any time, and the board may convert accrued dividends into common stock on the same basis, subject to exchange rules. Each share votes together with the common stock as a single class. Two-thirds of the Series A holders must consent before the company can authorize a senior security, change the Series A terms, or redeem or pay dividends on capital stock, with exceptions set out in the Certificate of Designations. ## Who arranged the placement Univest Securities, LLC served as placement agent for the Offering under a Placement Agency Agreement dated April 7, 2026. AquaBounty agreed to pay Univest a fee equal to 7.0% of the gross proceeds from the sale of Series A shares in the $500,000 preferred placement. ## The business behind the notes The annual report, filed March 31, 2026, describes a company that once pursued large land-based farms for its genetically engineered Atlantic salmon. Construction of a 10,000 metric ton farm in Pioneer, Ohio, was paused in June 2023 after cost estimates kept rising. AquaBounty then sold its Indiana grow-out farm in July 2024, sold Ohio equipment through 2024 and 2025, and sold its Canadian subsidiary and its intellectual property in March 2025. Its main remaining asset is the Ohio Farm Project, and it has received a non-binding Letter of Interest to buy its Ohio subsidiary. ## Financial position The annual report shows a net loss of $149.2 million for 2024 and $18.5 million for 2025. Cash used in operations was $13.9 million in 2024 and $8.7 million in 2025. Year-end cash and cash equivalents were $230,362 at the end of 2024 and $501,295 at the end of 2025. Impairment charges totaled $129.8 million in 2024 and $14.4 million in 2025. ## The risks ahead The exchange cleared $4,000,000 of senior note principal, but it replaced debt with preferred stock that carries an 18.0% annual dividend on the Liquidation Value, ranks ahead of common stock, and converts into up to 4,727,371 and 547,705 common shares for the two parts. Cash used in operations was $8.7 million in 2025 against year-end cash of $501,295, and the cash sale raised $500,000. The company still depends on the Ohio Farm Project, where it is working with an investment bank on a possible sale and has a non-binding Letter of Interest. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story AQB AquaBounty Technologies, Inc. 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Cite as: aibio.space, "AquaBounty exchanges $4,000,000 of senior notes for preferred stock", 2026-04-07, https://aibio.space/news/aquabounty-exchanges-4-000-000-senior-notes-preferred-stock/