BALATON, Minn., Feb. 2, 2022 /PRNewswire/ — The trū Shrimp Companies, Inc. (“trū Shrimp”), a leader in U.S. shrimp aquaculture innovation, today announced the launch of its initial public offering of 1,500,000 units consisting of shares of its common stock and warrants to purchase shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (“SEC”). The initial public offering price is expected to be between $9.00 and $11.00 per unit. trū Shrimp expects to grant the underwriters a 45-day option to purchase up to an additional 225,000 shares of its common stock and/or warrants to purchase shares of its common stock in any combination thereof at the initial public offering price less underwriting discounts and commissions.  trū Shrimp has applied to list its common stock on the Nasdaq Capital Market under the ticker symbol “BTRU” and its warrants to purchase its common stock on the Nasdaq Capital Market under the ticker symbol “BTRUW”. The offering is subject to market conditions, and there can be no assurance as to whether the offering may be completed or on what terms.

Lake Street Capital Markets, LLC and Maxim Group LLC will serve as joint book runners for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained by contacting: Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing [email protected]; or Maxim Group LLC, Attn: Equity Syndicate, 300 Park Avenue, 16th Floor, New York, New York 10022, by calling (212) 895-3745, or by emailing [email protected].

A registration statement on Form S-1 relating to the proposed initial public offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

trū Shrimp is a seafood and biopolymer company that produces premium consumer shrimp of varying sizes, chitosan for medical applications made from its shrimp shell tissue, and a high protein, low-fat pet food ingredient. From its inception in 2014, the Company has pioneered the development and commercialization of a breakthrough, scalable, and shallow-water indoor aquaculture platform that enables controlled and predictable production of shrimp and shrimp shell tissue. trū Shrimp’s patented and proprietary Tidal Basin Technology was engineered to ensure industry-leading food safety, supply chain traceability, and measured and documented sustainability.


The trū Shrimp Companies, Inc.
[email protected]

SOURCE trū Shrimp

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