Aquabounty Technologies Inc (AQB) · Oct 23, 2026 · Share issuance
8.1M-share conversion — 8,077,043 shares issued; 13,291,953 common shares outstanding
AquaBounty’s preferred-stock conversion is now complete, issuing 8.1 million common shares. The dilution was disclosed in advance, but the capital structure is now materially heavier.
AquaBounty is a cash-constrained aquaculture biotech trying to preserve its Ohio farm project after selling its Indiana farm and Canadian operations; its latest quarterly filing also warns about substantial doubt regarding its ability to continue as a going concern.
The planned conversion is now legally complete. The SEC declared the resale registration statement effective on October 23, triggering the previously announced automatic conversion. 〔0〕
The mechanical dilution is substantial but not new information. All 263,753 Series A preferred shares and 109,223 Series B preferred shares converted into 8,077,043 common shares. 〔1〕 The October 7 conversion agreements had already disclosed the conversion structure and the October 30 outside date, so this filing confirms execution rather than introducing a surprise.
| Capital structure | Shares | Comparison |
|---|---|---|
| Common shares issued in conversion | 8,077,043 | New shares on October 23, 2026 (Item 8.01) |
| Common shares outstanding after conversion | 13,291,953 | After conversion (Item 8.01) |
| Preferred shares remaining | 0 | All preferred stock converted (Item 8.01) |
The balance-sheet effect is simplification, not funding. The preferred securities disappear, but the company receives no new cash from this conversion; it mainly turns existing preferred claims into common equity. 〔2〕 That removes a layer of preferred capital while leaving the company with a much larger common-share base and no operating milestone or liquidity improvement in this filing.
Bottom line: This completes a previously disclosed capital-structure transaction. It matters because the dilution is now effective, but it does not materially change AquaBounty’s underlying operating or funding challenge.
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