Aquaculture fund new significant shareholder in HBC

The global investment fund Aqua Spark has acquired a substantial number of shares in Hofseth BioCare ASA. Aqua Spark's purchase represents a 3.38 % stake in HBC.
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Hofseth BioCare ASA ("HBC") has been informed that Aqua Spark has acquired 12,100,000 shares in an off-market transaction with Bonafide at a price per share of NOK 8.10. Aqua Spark's purchase represents a 3.38 % stake in HBC.

Aqua Spark is a global investment fund based in the Netherlands that invests in companies along the whole value chain of the aquaculture sector.

"We know Aqua Spark to be a highly competent investor within the aquaculture sector and they are an investor that shares our sustainability focus. We are delighted to welcome Aqua Spark as a new significant shareholder in HBC and appreciates the belief Aqua Spark expresses about our products and prospects", said Roger Hofseth, CEO of HBC

Amy Novogratz & Mike Velings, cofounders of Aqua-Spark are enthusiastic about the new investment:

"We are extraordinarily enthusiastic about our investment in Hofseth Biocare. We were first attracted to HBC because their products perfectly close the loop of a circular economy business model. Their process of enzymatically hydrolysing the side streams of non-GMO antibiotics-free, Norwegian Atlantic salmon, reducing waste, and increasing the financial and nutritional value of the whole fish is an instrumental step in furthering the sustainability of the aquaculture industry”.

Novogratz & Velings believe that the company is on the cusp of an inflection point operationally and from a R&D perspective. In addition, they find the health benefits to be truly extraordinary:

“We view the company as a ‘“best-in-class’” manufacturer of consumer health and pet health ingredients, and as an incubator of new drug leads. The latter is certainly something that the market has overlooked. Hofseth Biocare has incredible findings and patents, as well as ongoing trials in the fields of Asthma and IBS, where its natural health products may be able to address a significant unmet need for mild to moderate cases of both conditions. We are excited to see the latest results from trials and studies to be completed later this year and next”.

HBC is their first step into the listed market:

“We have stepped into the listed market for the first time as we believe that this company’s potential is significant and undervalued by public markets on a long-term view", said Novogratz & Velings.