Vincent Erenst, CEO of The Kingfish Company.
Photo: WeAreAquaculture.
As reported yesterday by WeAreAquaculture, The Kingfish Company announced on the stock exchange last Friday the successful completion of the strategic financial restructuring announced on May 12, 2026. Today, it has released a new statement assessing the transaction and providing further details. "This is a pivotal moment for Kingfish," said CEO Vincent Erenst.
"We now have the financial platform we need to focus fully on what we do best, producing world-class yellowtail kingfish at scale, and in a sustainable manner," he added.
A pioneer in sustainable land-based production of premium yellowtail kingfish, The Kingfish Company operates Kingfish Zeeland in the Netherlands, where it produces using recirculating aquaculture systems (RAS) powered entirely by renewable energy. The fish are raised without antibiotics or vaccines and supplied to premium restaurants and retailers throughout Europe, the Middle East, and North America.
Regarding the restructuring, which the company has said "secures a strong capital foundation for continued growth," as mentioned above, Kingfish gave more details today.
According to the release, it includes a private placement worth EUR 21 million, in addition to the conversion of approximately EUR 49 million of convertible loan into equity and an amendment to the company's senior lending facility, extending its maturity to April 2029 and recalibrating its covenants.
The company also explained that, taken together, these measures significantly reduce its leverage, simplify its capital structure and strengthen its liquidity, providing a solid foundation for the next phase of growth.
Within the private placement, The Kingfish Company highlighted that, as announced in May, the Icelandic investment firm Eyrir contributed EUR 15 million of the new equity, acquiring approximately 31.4% of the total share capital, making it the company's largest shareholder.
Likewise, the land-based yellowtail kingfish farmer recalled that, at the company's Extraordinary General Meeting held on June 19, Eyrir's chairman, Árni Oddur Thordarson, was elected to the Supervisory Board.
"With Eyrir's impressive entrepreneurial track record in developing and scaling businesses over the long term, and the continued backing of our existing shareholders, we are well positioned to grow and meet the rising demand for premium, responsibly farmed seafood in our core markets," Kingfish CEO Vincent Erenst said now.
Finally, the Dutch aquaculture company also detailed that existing shareholders, including founding shareholders, contributed the remaining EUR 6 million to reach the total of EUR 21 million in the private placement.
Furthermore, it reiterated its plans to launch a subsequent repair offering aimed at eligible shareholders who were unable to participate in the private placement. As stated in Friday's announcement, this offering is contingent upon the completion of the 2025 audit, so further details, including the timing, will be communicated later.
The Kingfish Company concluded its statement today by saying that the preparation of its 2025 Annual Report—the preliminary results for FY 2025 were presented just two weeks ago, along with the business update for Q1 2026—including the audited financial statements, is progressing, and the report is expected to be published in July 2026.