Murray Cod Australia Raises AU$20.4 Million for Expansion

Murray Cod Australia (ASX: MCA) operates a land-based aquaculture business with a low environmental footprint. It consists of: 8 farm sites, 1 processing plant, and a maintenance facility in the Murrumbidgee Irrigation Area, NSW and Current production capacity of approximately 2,088 tons per annum.

To fund its expansion, MCA launched a Placement and an accelerated non-renounceable Entitlement Offer, raising AU$20.4 million. The net tangible assets post-offer are valued at AU$95.2 million ($0.09 per share), with the offer price set at AU$0.07 per share. This represents a 22.3% discount to NTA and a 37.4% discount to the 30-day VWAP. MCA owns significant free-hold land and water assets and has seen a 69% increase in biomass in the last 4.5 months. The company aims to achieve a biomass of ~4,000 tons by the end of FY27, potentially generating ~$100 million in annual revenue.

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