AquaBounty Technologies, Inc. entered into conversion agreements on October 7, 2026, with holders of its Series A and Series B Convertible Preferred Stock. Under these agreements, all outstanding shares of Preferred Stock will automatically convert into shares of the Company’s Common Stock on the earlier of the effective date of a registration statement filed with the SEC or October 30, 2026.
The conversion calculations are based on the applicable Liquidation Value per share, accrued and unpaid dividends through October 15, 2026, and the applicable conversion price. Specifically, the conversion price is $0.9129 per share for Series A Preferred Stock and $1.03 per share for Series B Preferred Stock.
Upon conversion, the Company will issue a total of 8,077,043 shares of Common Stock. This total is comprised of 5,771,929 shares to holders of Series A Preferred Stock and 2,305,114 shares to holders of Series B Preferred Stock. The Preferred Stock shares will be cancelled and retired upon conversion.
The Company agreed to file a registration statement on Form S-3 with the SEC covering the resale of the Conversion Shares. The Company will use its best efforts to cause this registration to become effective as promptly as practicable and will maintain its effectiveness until the earliest of the sale of all Conversion Shares, the date holders may sell all shares without restriction under Rule 144, or the second anniversary of the Conversion Date.
