Kats, Netherlands-based Kingfish Company has successfully closed a EUR 21 million (USD 24 million) private placement in what the company called a major milestone.
Kingfish announced the private placement on 12 May via a private placement of over 392 million ordinary shares. The fundraise was part of a strategic financial restructuring, which the company said would result in a simplified capital structure and a reduction in its net debt.
As of 26 June, the company said it had officially increased its share capital in connection with the private placement, and that has converted an outstanding convertible loan and amended its senior financing agreement to strengthen its balance sheet and improve the company’s liquidity.
“We are particularly pleased to welcome Eyrir Invest as our largest shareholder following the transaction,” Kingfish said. “Their support, together with that of our existing shareholders and new investors, reflects confidence not only in The Kingfish Company’s long-term potential but also in recirculating aquaculture system (RAS) technology.”
Eyrir Invest is an international investment company, and the company established Eyrir Blue Farms as a new entity focused on land-based aquaculture companies in the late venture or early growth phase. Eyrir was founded in 2000 by Chairman Arni Oddur Thordarson, and the company is based in Iceland.
Kingfish said a subsequent repair offering for eligible shareholders who did not participate in the private placement is projected to follow in July, subject to completion of its 2025 audit.
The private placement announcement comes after Kingfish Company recently posted its Q1 2026 results, indicating higher revenues and harvest volumes but higher downgrade rates for its fish. The company has not released its FY 2025 results and, as a result, has been placed in the “penalty bench” of the Oslo Børs, which does not carry any negatives other than signaling the company is no longer complying with the market’s disclosure rules.
