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Following a transfer completed on 26 June, Coral HoldCo came to own 22,799,132 shares in the Norwegian company.

The move marks the latest stage in a restructuring plan intended to reduce debt, improve liquidity, and take the Florida-based company off the stock exchange.

The Florida-based company said the plan will provide at least $20 million in new liquidity, but still expects to need yet more funding over the next year.

The Florida-based company is continuing talks with investors on a broader refinancing solution.

The Florida-based company has received backing for a short-term loan as it works to avoid breaching loan agreements and restructure its finances.

The salmon producer is in discussions with major shareholders after increasing its funding requirement to between $25-30 million, with a 31 March deadline to secure a deal.