AquaBounty Technologies, Inc. has completed a private placement, raising $2.25 million in cash. The company issued 109,223 shares of Series B Convertible Preferred Stock, convertible into up to 2,184,460 shares of common stock. Univest Securities, LLC acted as the placement agent, receiving a 7.0% fee. Net proceeds will be used for working capital and general corporate purposes. The Series B Preferred Stock ranks senior to common stock, accrues an 18.0% annual dividend, and has a liquidation preference of $20.60 per share plus accrued dividends. Holders have voting rights equivalent to their convertible common stock shares. Protective provisions require a two-thirds vote for significant corporate actions. Conversion into common stock is at an initial price of $1.03 per share, plus accrued dividends. Redemption is possible after a financing exceeding $20 million, at the liquidation preference plus accrued dividends. Breach remedies include an increased dividend rate and potential automatic redemption.