AQUABOUNTY TECHNOLOGIES INC

AquaBounty Technologies, Inc. held its Annual Meeting of Stockholders on June 23, 2026. Shareholders approved a proposal granting the Board discretion to effect a reverse stock split at a ratio ranging from 1-for-5 to 1-for-20, to be implemented by July 31, 2026. Additionally, stockholders elected four directors, ratified Deloitte & Touche LLP as the independent registered public accounting firm, and approved the compensation of named executive officers on an advisory basis.

AquaBounty Technologies reported a net loss of $1.2 million for the three months ended March 31, 2026, a significant decline from a net income of $401 thousand in the prior year. The company continues to face substantial doubt about its ability to continue as a going concern, with an accumulated deficit of $389 million and cash balances of $441 thousand. AquaBounty is actively pursuing asset sales and capital raising activities, including a recent $1.15 million equity transaction, following a strategic shift to divest its farming operations. Subsequent to the quarter, the company exchanged $4.3 million in Senior Notes for preferred stock.

AquaBounty Technologies, Inc. filed a Certificate of Correction to its Series A Convertible Preferred Stock's Certificate of Designations. This amendment corrects a scrivener's error in Section 8.1(a) of the original filing. The initial conversion price per share of the Series A Convertible Preferred Stock is now accurately stated as $0.9129, subject to adjustment, rather than the previously reported Liquidation Value of $18.2580 per share. The company confirmed that no other terms, rights, preferences, privileges, or limitations of the Series A Convertible Preferred Stock were affected by this correction.

AquaBounty Technologies, Inc. announced it has achieved compliance with Nasdaq Listing Rule 5550(b)(1), which sets the continued listing standards for primary equity securities. The company now meets the Equity Standard, requiring stockholders' equity of at least $2.5 million. This compliance is a direct result of a recent offering, as described in a previous filing. This development is positive for investors, as it resolves potential concerns regarding the company's listing status on The Nasdaq Stock Market LLC, ensuring its continued presence on the exchange.

AquaBounty Technologies has significantly strengthened its balance sheet by executing a multi-faceted financing strategy. The company exchanged $4,000,000 in principal amount of senior notes plus $315,616.44 in accrued interest for 236,367 shares of Series A Convertible Preferred Stock. Concurrently, AquaBounty raised an additional $500,000 through a private placement of 27,386 shares of Series A Preferred Stock for cash. This strategic move reduces the company's debt burden while injecting new capital, although it introduces potential dilution from the convertible preferred shares.