Atlantic Sapphire is delisted from the stock exchange

The Oslo Børs has delisted the shares in land-based salmon farmer Atlantic Sapphire ASA and the company's warrants from the Euronext exchange.

"The shares in Atlantic Sapphire ASA and the company's warrants (ISIN NO0013340802) will be delisted from the Euronext Oslo Stock Exchange as of October 23, 2026. The last day of listing will be October 22, 2026," the exchange announced.

The company, which operates a recirculating aquaculture system (RAS) facility in Florida in the United States, applied to delist on October 13 after majority owner Coral HoldCo AS carried out the compulsory purchase of the 0.97% of shares that it didn’t already own.

Changing status from a public to a private company has advantages and disadvantages. Among other things, it means that Atlantic Sapphire will not be able to raise capital from the public, but after years of losses it had already reached that point in a practical sense.

$26m invested since March

Coral HoldCo was formed by Atlantic Sapphire shareholders Condire Management L.P., Nordlaks Holding AS, Strawberry Capital AS, Nokomis Capital Master Fund, L.P. and Joh. Johannson Eiendom AS, known collectively as the Investor Group. The Group, which has always intended to take the company private, has stumped up US $26 million in convertible loans since March to keep Atlantic Sapphire afloat.

Exercising the option to convert the loans into new shares gave Coral HoldCo a 99.03% ownership stake. A shareholder has the right to compulsorily buy out other stakeholders once it acquires more than 90% of equity.