AquaBounty Stock Plunges As Equity Offering By Selling Shareholders Priced At 32% Discount

AquaBounty Technologies Inc AQB has priced the public secondary offering of 11.2 million shares of its common stock by certain selling stockholders at $2.10 per share.
The offer price represents a 32.7% discount on the company’s closing price of $3.12 on November 18, 2021.
The Selling Stockholders have granted the underwriters a 30-day option to buy up to 1.6 million additional shares.
AquaBounty is not selling any shares in the offering and will not receive any of the proceeds.
The offering is expected to close on or about November 23, 2021.
Oppenheimer & Co. Inc. and Lake Street Capital Markets, LLC are acting as joint book-running managers for the offering.
Price Action: AQB shares traded lower by 27.6% at $2.26 in premarket on the last check Friday.