Atlantic Sapphire to raise $76Mn in private placement

News
1979

Atlantic Sapphire, the Norwegian outfit aiming to eventually produce 90,000 tonnes of salmon per year near Miami, Florida, is raising money in the market, as it funds the next stages of projects in Denmark and the USA.

A stock issue with a subscription price of NOK 37 per share is in the works, writes TDN Direkt.

The net proceeds will help expand the facility of Atlantic Sapphire’s Danish subsidiary, Langsand Laks. They capital will also sustain the construction of gigantic on-land installations under development in Dade County, Florida.

Arctic Securities, DNB Markets and Pareto Securities are onboard organizing the stock issue. Last summer, the company’s fundraising yielded USD 70 million in fresh capital.

Atlantic Sapphire is majority owned by Johan E . Andreassen and Bjorn-Vegard Lovik, both industry vets.