AquaBounty Technologies, Inc. (LON:ABTU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
entered into an Asset Purchase Agreement (the Purchase Agreement)
with Bell Fish Company LLC, a Delaware limited liability company
(Bell). to the Purchase Agreement, AquaBounty has agreed to
acquire Bells aquaculture facility in Albany, Indiana, together
with certain related assets, for $14.0 million in cash.
and all land owned by Bell, together with all buildings,
structures, fixtures, improvements, and other appurtenances
located thereon and any and all of Bells interests in easements,
licenses, rights of access, and rights of way relating thereto;
(ii) certain tangible personal property owned by Bell used in the
ownership, operation, and maintenance of the real property; (iii)
Bells rights under certain contracts, including rights as tenant
under certain leases; and (iv) all supplies owned by Bell and
used in the operation of the property (all of the foregoing,
collectively, the Property). As AquaBounty will not be continuing
Bells business of farming trout, the Property does not include
inventory, aquatic biomass (i.e., fish and fish eggs), cash, cash
equivalents, accounts receivable, deposits, certain scheduled
contracts, intellectual property, employee plans, or specified
excluded assets.
million, and the closing of the transactions contemplated by the
Purchase Agreement is subject to customary closing conditions.
purport to be complete and is qualified in its entirety by
reference to the full text of the Purchase Agreement, a copy of
which will be filed with AquaBountys Quarterly Report on Form
10-Q for the three months ended June 30, 2017.
the signing of the Purchase Agreement. A copy of the press
release is furnished herewith as Exhibit 99.1 and incorporated
herein.
|
Exhibit No.
|
Description
|
|
|
99.1
|
Press release issued by AquaBounty Technologies, Inc.
on June 13, 2017, furnished herewith. |
About AquaBounty Technologies, Inc. (LON:ABTU)
AquaBounty Technologies, Inc. is a biotechnology company engaged in research, development and commercialization of the commercial viability of a group of proteins, antifreeze proteins (AFPs). The Company focuses on the managing aquaculture productivity. It offers AquAdvantage Salmon (AAS), which can be grown in contained, land-based facilities. It offers AquAdvantage Salmon for land-based facilities that can be built closer to consumers to manage the need for air freight shipping and transportation. The Company’s subsidiaries include AquaBounty Canada, Inc., which operates a commercial biotechnology laboratory that conducts research and development programs related to the Company’s technologies; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc., and AquaBounty Brasil Participacoes Ltda., which conducts commercial trials of the Company’s AquAdvantage Salmon.
