- The company wants to build a $29.3 million RAS salmon facility and it recently secured $5 million in funding through a convertible note.
- The conversion price is $5.00 and the share price briefly jumped above $4.00 before slumping below $2.00.
- The short borrow fee rate stands at over 100% but I think that another convertible note deal with similar terms could create an interesting short selling opportunity.
- For risk-averse investors, it could be best to avoid Blue Star Foods.
For further details see:
Blue Star Foods: Convertible Note Deals Could Create Compelling Short Selling Opportunities