Miami, FL — Blue Star Foods Corp. (“Blue Star,” the “Company,” “we,” “our,” or “us”) (NASDAQ: BSFC)an integrated, sustainable environmental, social and governance (ESG) seafood company with a focus on recirculating aquaculture systems (RAS), has asked the Securities and Exchange Commission (“SEC”) for consent to withdraw our Registration Statement on Form S-1 (No. 333-281270), originally filed on August 6, 2024, as we currently no longer intend to proceed with our public offering. We believe this is in the best interests of our shareholders and investors.
The registration statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the registration statement.
We believe this request is to protect our shareholders’ investments. The trust and support of our shareholders is invaluable to us and we are committed to making decisions that protect the interests of our shareholders and support the long-term growth of our company.
John Keeler, Chairman and CEO of Blue Star Foods, commented, “We do not believe our current market capitalization reflects the true value of our company. This decision was made after thorough analysis and careful consideration of our financial condition and market conditions. We are committed to re-evaluating our strategy to ensure it is consistent with the interests of our shareholders and the growth of our company. Shareholders’ continued support and confidence in Blue Star Foods Corp. means the world to us. We look forward to creating long-term value together.”
We are confident that this decision will not impact our core business or our strategic objectives. We remain confident in our business model and our revenue growth trend.
We guarantee that our request will result in the Commission issuing an order authorizing the withdrawal of the registration statement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the common stock or any other securities of the Company, nor shall there be any offer, solicitation or sale of the securities mentioned in the press release 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.
About Blue Star Foods Corp. (NASDAQ: BSFC)
Blue Star Foods Corp. is an integrated environmental, social and governance (ESG) sustainable seafood company with a focus on recirculating aquaculture systems (RAS) that processes, packages and sells high-quality seafood products. The Company believes it uses best-in-class technology in both resource sustainability management and traceability and ecological packaging. The Company also owns and operates the oldest continuously operating recirculating aquaculture system (RAS) salmon farm in North America. The Company is based in Miami, Florida and its corporate website is: https://bluestarfoods.com
Forward-looking statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate purely to historical or current facts, including, but not limited to, statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue,” or the negative versions of these words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could materially affect current plans. Risks related to the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation, and expressly disclaims any such obligation, to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
