Tuesday, 25 September 2012

Neptune Announces $30 Million Growth Financing

Neptune Technologies & Bioressources
Basic Shares: 48.2 million
Fully diluted: 53.9 million

Capital is the fuel for growth!

This morning, Neptune announced that it’s pursuing a $30 million financing to:

o   Support sales, marketing, and krill inventory purchases for NKO™  and EKO™,
o   Support Acasti’s development and validation of CaPre® and other product candidates,
o   Support NeuroBio in the development and validation of its product candidates,
o   To fund expansion of its Sherbrooke plant to increase annual capacity to 500,000 kg,
o   And the remainder will be used to fund further product development, IP protection, and working capital.

The financing is at $4.10 per share with no warrants attached. It is being lead by RBC Capital Markets and JMP Securities. Byron Capital Markets and John Thomas Financing are acting as Co-Managers.

To view the news release, please click here