--- title: "AquaBounty sells $2,250,000 of Series B preferred stock" url: "https://aibio.space/news/aquabounty-sells-2-250-000-series-b-preferred-stock/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-06-25" section: "Financings" tickers: "NASDAQ:AQB" source: "https://www.sec.gov/Archives/edgar/data/1603978/000160397826000073/aqb-20260625x8k.htm" summary: "The private placement closed June 25, 2026, with Univest Securities, LLC as placement agent. The shares carry an 18.0% annual dividend and a $1.03 conversi" --- By the aibio.space news desk. Sources - [AquaBounty Technologies, Inc. 8-K (2026-06-30)](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000073/aqb-20260625x8k.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/) 2026-06-25 # AquaBounty sells $2,250,000 of Series B preferred stock Tickers [AQB](https://aibio.space/companies/aquabounty-technologies/) The private placement closed June 25, 2026, with Univest Securities, LLC as placement agent. The shares carry an 18.0% annual dividend and a $1.03 conversion price. ## Key facts - **Company**: AquaBounty Technologies, Inc. (NASDAQ: AQB) - **News type**: Financings - **Primary source**: [AquaBounty Technologies, Inc. 8-K (2026-06-30)](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000073/aqb-20260625x8k.htm) *Midtown Manhattan and a downtown tower in haze. CC0, via rawpixel. The picture shows the field, not the companies named.* AquaBounty Technologies, Inc. (Nasdaq: [AQB](https://aibio.space/companies/aquabounty-technologies/)) sold 109,223 shares of its Series B Convertible Preferred Stock for aggregate cash consideration of $2,250,000 in a private placement that closed on June 25, 2026, according to a Form 8-K. The shares are convertible into up to 2,184,460 shares of common stock. The company expects gross proceeds of approximately $2,250,000 before fees to the placement agent and other offering expenses, and it intends to use the net proceeds for working capital and general corporate purposes. ## The terms The company signed securities purchase agreements with certain purchasers on June 25, 2026, and filed a Certificate of Designations with the Secretary of State of Delaware the same day. The Series B Preferred Stock ranks senior to the common stock for dividends and for distributions on liquidation. Dividends accrue at 18.0% per annum, paid quarterly in arrears and calculated only on the Liquidation Value. They are payable in cash when declared on a bi-annual schedule, at the end of October and April. The board may let dividends accumulate instead. The Liquidation Value is $20.60 per share. Holders may convert at any time. The number of shares converted is multiplied by the Liquidation Value, accrued and unpaid dividends are added, and the total is divided by the conversion price, which starts at $1.03 per share. Each share votes together with the common stock as a single class. Holders of at least two-thirds of the series must consent before the company can authorize a senior security or redeem or pay dividends on capital stock, subject to exceptions in the Certificate of Designations. ## Who arranged the offering Univest Securities, LLC served as placement agent under a Placement Agency Agreement dated June 25, 2026. AquaBounty agreed to pay Univest a fee equal to 7.0% of the gross proceeds. The shares were sold without general solicitation, under the exemption in Section 4(a)(2) of the Securities Act and Regulation D, to purchasers the company says are accredited investors. They have not been registered under the Securities Act. ## The business behind the raise AquaBounty built its strategy on genetically engineered Atlantic salmon and land-based farming. Its annual report says the company paused construction of a 10,000 metric ton farm in Pioneer, Ohio, in June 2023, as cost estimates kept rising. The company has since sold its Indiana farm, in July 2024, and its Canadian subsidiary, along with the intellectual property for its GE Atlantic salmon, in March 2025. It no longer operates any salmon farms. Its main remaining asset is the Ohio Farm Project, which includes the remaining Ohio equipment and the land and construction in process. The company is considering a non-binding Letter of Interest to buy its Ohio subsidiary and continues to work with an investment bank on the path forward, including a possible sale. Impairment charges totaled $129.8 million in 2024 and $14.4 million in 2025. The 2024 charges included $22.5 million on the Indiana Farm and $57.3 million on the Ohio Farm Site. ## Financial position The financial data from the annual report show 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. ## The risks ahead The raise is small next to the company's needs. Cash used in operations was $8.7 million in 2025, while the placement brings approximately $2,250,000 before fees. The Series B shares carry an 18.0% annual dividend on the Liquidation Value, rank ahead of common stock, and convert at an initial $1.03 per share, so conversion can add common shares. The company has no salmon farms and still depends on the Ohio Farm Project, where it is working with an investment bank on a possible sale and considering a non-binding Letter of Interest. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story AQB AquaBounty Technologies, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/aquabounty-sells-2-250-000-series-b-preferred-stock/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "AquaBounty sells $2,250,000 of Series B preferred stock", 2026-06-25, https://aibio.space/news/aquabounty-sells-2-250-000-series-b-preferred-stock/