Icelandic land-based salmon farmer First Water completes second closing, raising a total of $99 million

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With the capital raise, the financing of the first phase of First Water’s land-based salmon farm is now guaranteed.

"We have a great project in hand, which is reflected in that we completed a successful funding despite difficult market conditions," First Water CEO Eggert Kristofersson said.
“We have a great project in hand, which is reflected in that we completed a successful funding despite difficult market conditions,” First Water CEO Eggert Kristofersson said.Photo: Landeldi

Published 3 October 2023, 04:30

Icelandic land-based salmon farmer First Water has raised a total of ISK 13.7 billion (€94 million/$99 million) in new share capital.

The second closing of the equity round was completed last week and raised about €12 million ($12.7 million).

It follows the company’s first close in July, where First Water announced an €82 million ($90 million) equity raise.
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