M&A - AQUABOUNTY TECHNOLOGIES INC

Form Type: 8-K

Filing Date: 2025-03-04

Corporate Action: Acquisition

Type: New

Accession Number: 000160397825000008

Filing Summary: On February 27, 2025, AquaBounty Technologies, Inc. (AQB) entered into a Share Purchase Agreement (SPA) with Kelly Cove Salmon Ltd. (KCS). Under this agreement, KCS will acquire all outstanding shares of Aqua Bounty Canada, Inc. for a purchase price of C$3,022,559, adjusted by the Subsidiary's liabilities and unpaid license fees, resulting in a closing purchase price of C$1,585,205. The SPA includes customary terms and allows AQB to retain a royalty-free license for using transferred trademarks. KCS will assume C$4,643,109 in outstanding loans of the Subsidiary. The transaction closed on March 3, 2025, following certain closing conditions. Forward-looking statements regarding the transaction's completion and use of proceeds are included, emphasizing potential risks and uncertainties.

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