Atlantic Sapphire is undergoing extensive financial restructuring and the phase 2 expansion has been put on hold.

Phtoto: Pål Mugaas Jensen

Atlantic Sapphire borrows an additional $1.5 million

Company increases interim financing to a total of $23 million

Pål Mugaas Jensen Pål Mugaas Jensen Editor, LandbasedAQ

Published 8 September 2026 - 14:09 Modified 8 September 2026 - 16:55

Miami based salmon farmer Atlantic Sapphire announced it had borrowed an extra $1.5 million in a stock exchange notice on Tuesday.

The new loan follows up on the agreement Atlantic Sapphire entered into on 24 August. At that time, the company borrowed USD 1.5 million to improve its liquidity situation. At the same time, it was agreed that the company could request a further USD 1.5 million within ten business days, subject to approval by the lenders.

Atlantic Sapphire borrows more

Atlantic Sapphire is now making use of this option. As a result, the bridge loan is increased from USD 1.5 million to USD 3 million.

Atlantic Sapphire initially raised USD 10 million in interim financing in March, divided into two tranches of USD 5 million. A further USD 10 million was made available in June. With the two disbursements totalling USD 3 million in August and September, total interim financing has therefore reached USD 23 million.

The company is also undergoing an extensive financial restructuring. The investor group behind the loans has consolidated its shares in Coral HoldCo which, following the mandatory offer to the remaining shareholders, will hold approximately 68.7 per cent of Atlantic Sapphire.