Struggling bioengineered salmon grower AquaBounty has raised $4.82 million as the Harvard-based company says it may not be able to continue operations.
Nine investors were involved in the equity raise, according to a Wednesday filing with the U.S. Securities and Exchange Commission.
AquaBounty does not have a comment on the transaction at this point, said Vince McMorrow, AquaBounty representative.
Founded in 1991, AquaBounty specialized in the production of genetically modified salmon. Harvesting the fish from eggs to fully grown fish, AquaBounty aimed to preserve the global seafood population by producing salmon more efficiently and sustainably.
As of March 27, the company had three employees, all in corporate roles, according to a March 31 SEC filing.
The company’s $4.82-million raise comes as AquaBounty is considering selling its Ohio fish farm after announcing it would sell its three other farms in 2024. The grower has been selling the equipment assets at its Ohio fish farm.
In July 2024, the company sold its Indiana fish farm. In September and December of that same year, AquaBounty said it would sell both its Prince Edward Island farms. The sales for all four farms would total just under $130 million in impairment charges for the company.
At the same time, the roles of CEO Dave Melbourne, Chief Operating Officer Alejandro Rojas, and Chief People Officer Melissa Daley were eliminated.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
