Blue Star Foods Corp. Announces Closing of $4M Public Offering
November 05 2021 - 12:58PM
Blue Star Foods Corp. (NASDAQ:BSFC) (“Blue Star” or the “Company”),
an integrated Environmental, Social, and Governance (ESG) seafood
company, today announced the closing of its previously announced
underwritten public offering of 800,000 shares of common stock at a
public offering price of $5.00 per share, for total gross proceeds
of $4.0 million USD, before deducting underwriting discounts,
commissions and other related expenses. In addition, Blue Star has
granted the underwriters a 45-day option to purchase up to an
additional 120,000 ordinary shares at the public offering price,
less underwriting discount and commissions. The Shares began
trading on the Nasdaq Capital Market under the ticker symbol “BSFC”
on Wednesday, November 3rd, 2021.
The Company intends to use the proceeds to
provide funding for general corporate purposes, including working
capital, operating expenses, and capital expenditures.
Newbridge Securities Corporation and Revere
Securities LLC acted as co-lead bookrunning managers.
The Company's securities described above are
being offered pursuant to an effective registration statement on
Form S-1 (SEC File No. 333-259197) that was previously filed with
the Securities and Exchange Commission ("SEC") on August 31st,
2021, and subsequently amended and declared effective on November
2nd, 2021. The offering is being made only by means of a written
prospectus that forms a part of the registration statement. A final
prospectus relating to the offering was filed with the SEC and is
available on the SEC’s website located
at http://www.sec.gov and may also be obtained from the
offices of Newbridge Securities Corporation at 1200 North Federal
Highway, Suite 400, Boca Raton, FL 33432, by calling (877) 447-9625
or by emailing syndicate@newbridgesecurities.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Blue Star Foods Corp.
Blue Star Foods Corp. is an integrated ESG
seafood company that processes, packages and sells high-value
seafood products. The Company believes it utilizes best-in-class
technology, in both resource sustainability management and
traceability, and ecological packaging. The Company also owns and
operates the oldest continuously operating Recirculating
Aquaculture System (RAS) full grow-out salmon farm in North
America. The company is based in Miami, Florida, and its corporate
website is: www.bluestarfoods.com.
Forward Looking Statements
The foregoing material may contain
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, each as amended. Forward-looking statements
include all statements that do not relate solely to historical or
current facts, including without limitation the Company’s proposed
development and commercial timelines, and can be identified by the
use of words such as “may,” “will,” “expect,” “project,”
“estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,”
“continue” or the negative versions of those words or other
comparable words. Forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements,
including the potential listing of the Company’s common stock on
Nasdaq, are based on information currently available the Company
and its current plans or expectations and are subject to a number
of uncertainties and risks that could significantly affect current
plans. Risks concerning the Company’s business are described in
detail in the Company’s Annual Report on Form 10-K for the year
ended March 31, 2020 and other periodic and current reports filed
with the Securities and Exchange Commission. The Company is under
no obligation to, and expressly disclaims any such obligation to,
update or alter its forward-looking statements, whether as a result
of new information, future events or otherwise.
For more information, please contact:
Brett Maas | Hayden IREmail: brett@haydenir.comOffice: (646)
536-7331
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