Atlantic Sapphire Executive Leaves; Company Mulls $100 Million Private Placement
Top land-based salmon farmer Atlantic Sapphire said its CFO Jose Prado, stepped down from his position alongside its announcement of a potential $100 million private placement.
Prado will be replaced on an interim basis by Karl Ø. Øyehaug. Prado’s departure comes just after Atlantic Sapphire’s Q2 financial release, which highlighted cost overruns for Miami facility investments.
Atlantic Sapphire’s potential private placement will help pay off current debt and boost expansion plans. It also represents 12.3% of the company’s capital at current share price levels...
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