CLP is advising Atlantic Sapphire on raise of convertible loan

Atlantic Sapphire, the pioneer in land-raised salmon farming, has recently raised a new convertible loan, for total proceeds of approximately USD 59 million. CLP is advising Atlantic Sapphire in the process.

The new convertible loan includes cash proceeds of approximately USD 35 million, as well as roll-over of a previously granted convertible loan and capitalization of fees to the lenders.

The net proceeds of the convertible loan facility will be used to fund the capex and operations of Atlantic Sapphire until reaching EBITDA break-even of Phase 1 of Atlantic Sapphire's salmon farming facility in Florida.

CLP's core team on the transaction consisted of Edvard Cock, Axel Manø Juul, Joakim Gjerde and Max Mossin Wagle.