AquaBounty Technologies entered into conversion agreements with holders of its Series A and Series B Convertible Preferred Stock, triggering the automatic conversion of all outstanding preferred shares into common equity upon the earlier of SEC declaration of effectiveness or October 30, 2026. The transaction results in the issuance of approximately 8.1 million new common shares, calculated based on liquidation values and accrued dividends waived through mid-October. The company has agreed to file a Form S-3 registration statement to facilitate the resale of these conversion shares. AquaBounty Technologies develops and markets genetically modified Atlantic salmon for aquaculture.
