StockMarketWire.com - AquaBounty Technologies is planning to raise $2.0m, before expenses, through a subscription by existing shareholders.
The subscription is conditional on shareholder approval at a general meeting on 22 March.
The funds raised will provide the company with working capital for an additional 10 months on the current business plan, as it awaits final approval for its of its AquAdvantage Salmon new animal drug application from the US Food and Drug Administration.
The company does not expect significant sales until 2014 and anticipates a need to raise further funds before that time.
At 8:19am: (LON:ABTX) share price was 0p at 4p
Story provided by StockMarketWire.com
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