🇮🇸 Laxey completes substantially oversubscribed €47 million equity raise and signs committed term sheet for international syndicated loan

VESTMANNAEYJAR, Iceland — LAXEY, a company developing land-based salmon farming in Vestmannaeyjar, Iceland, has successfully completed a substantially oversubscribed EUR 47 million equity raise. The company has also signed a committed term sheet for an international syndicated loan, marking a significant milestone in its financial strategy and growth plans.

The equity raise demonstrates strong investor confidence in LAXEY’s vision for sustainable, land-based salmon farming. The funds will be used to accelerate the construction and development of the company’s state-of-the-art facility in Vestmannaeyjar, which aims to produce up to 36,000 tonnes of Atlantic salmon annually.

“We are thrilled by the overwhelming support from our existing investors, as well as the new group of high-quality strategic and financial investors,” said Lárus Ásgeirsson, chairman of the board of LAXEY. “This capital increase and the syndicated loan underscore our commitment to building a sustainable, bio-secure, and financially attractive land-based salmon farm on the Westman Islands. It is a testament to our strategy and the progress we have made in advancing the salmon industry in Iceland.”

The syndicated loan will provide additional financial flexibility, supporting LAXEY’s long-term operations and its mission to develop a leading land-based aquaculture facility. The company continues to focus on sustainability, innovation, and collaboration with local and international partners to ensure the success of its project.

For more information, visit the LAXEY website.

Originally published on June 23 by LAXEY.