AquaBounty Technologies, Inc. has entered into a definitive agreement to issue a promissory note to Commas International LLC, an affiliate of Univest Securities, LLC. The transaction, finalized on October 29, 2026, establishes a bridge loan facility with a maximum aggregate principal amount of $1,000,000.
As of the filing date, the company has received advances totaling $500,000 under this agreement. The loan is unsecured and does not contain financial covenants or events of default provisions. Interest on the advances accrues at an annual rate of 9% from the date of each advance. Accrued interest is payable within five business days following each anniversary of the note's date; if unpaid, it compounds annually. The principal amount is due on the specific due date for each advance, with the initial advance maturing on October 29, 2028. In all cases, the principal is due no later than the twenty-fifth anniversary of the note's date.
The company may prepay the advances in whole or in part at any time without penalty. Payments are applied first to accrued and unpaid interest and then to principal. The company intends to use the proceeds from the advances for working capital and to meet short-term liquidity needs.
Univest Securities beneficially owns approximately 10.7% of the company's outstanding common stock following a conversion on October 16, 2026. Bradley Richmond, the Chief Operating Officer of Univest Securities, beneficially owns approximately 5.5% of the outstanding common stock. The filing notes that neither the Lender nor Univest Securities received a placement fee in connection with the issuance of this specific note.
