Atlantic Sapphire Raises Financing Target to $30 Million, Faces March 31 Default Deadline
Atlantic Sapphire ASA increased its near-term funding requirement to $25-30 million and faces potential technical default with lenders if financing isn't secured by March 31, according to a March 23 update from the land-based salmon producer.
The revised financing target represents an increase from the $15-25 million range the company outlined in February, citing "an elevated level of market uncertainty and required buffer" needed to achieve EBITDA breakeven on its Phase 1 Florida operations...
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