Benchmark Holdings raise 36.4 million pounds and wish to raise even more

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The aquaculture health and genetics business raise millions by placing an issue price of 40p per ordinary share and are raising even more. 

The company intends to raise further 6 million pounds. by making an open offer to qualifying shareholders at the same issue price, which is a price reduction of 10,1 pct. compared to yesterdays price.

The benefits of this fundraise is according to the company to integrate their sea lice treatment BMK08 with the development of CleanTreat, the company’s proprietary system, which removes medical deposits from treated water.

The company believes this funding will support the strategy for both CleanTreat and deliver a higher return-on-investment.

“We are preparing to launch BMK08, our novel medicinal treatment to combat sea lice, one of the main biological challenges in salmon farming. This requires scaling up CleanTreat®, our proprietary system that removes medicinal residues from treatment water, and which is integral to the delivery of BMK08. Having reviewed a number of funding options, we strongly believe that an equity raise is the optimal funding strategy to deliver this scale,” writes Peter George, executive Chairman of Benchmark in a pressrelease. 

Benchmark Holdings has 558,986,062 existing ordinary shares, and own amoung other the companies SalmoBreed and Stofnfiskur.