AQUABOUNTY TECHNOLOGIES INC

AquaBounty has historically focused on producing genetically engineered Atlantic salmon using large-scale recirculating aquaculture system (RAS) farms. The company began constructing a 10,000 metric ton farm in Pioneer, Ohio, but paused construction in June 2023 due to substantial cost increases from inflation and other factors, which also hindered municipal bond financing. To address funding and strategic alternatives, AquaBounty engaged an investment bank. This led to the sale of its grow-out farm in Indiana in July 2024, recurring sales of selected equipment originally intended for the Ohio Farm Project throughout 2024 and 2025, and the sale of its Canadian subsidiary, including broodstock farms in Prince Edward Island, Canada, and its intellectual property for the GE Atlantic salmon, trademarks, and patents in March 2025. Following these transactions, AquaBounty's primary remaining asset is its investment in the Ohio Farm Project, comprising remaining Ohio Equipment Assets and the Ohio Farm Site (land and construction in process). The company continues to work with an investment bank to determine the optimal path for this asset, including its potential sale. AquaBounty has also received a non-binding Letter of Interest to purchase its Ohio subsidiary.