UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
On November 19, 2024, Blue Star Foods Corp. (the “Company”) filed a resale registration statement on Form S-1 with the Securities and Exchange Commission which was declared effective on November 27, 2024. The resale registration statement was filed pursuant to a registration rights agreement with certain investors. As part of the Company’s strategic initiatives, the Company closed a private placement offering in August 2024 whereby it issued promissory notes in the aggregate principal amount of $550,000. The registration rights agreement was a part of the private placement offering.
The investors have the right, at any time on or following the earlier of (i) the date that any of the shares are registered for resale under a registration statement of the Company or (ii) the date that is six (6) months after the issue date, to convert all or any portion of the then outstanding and unpaid principal and interest into fully paid and non-assessable shares of our common stock. The conversion price is $1.50 per share, subject to adjustments.
These steps reflect our commitment to optimizing our financial strategies while reinforcing our dedication to maintaining a strong and stable fiscal outlook.
| BLUE STAR FOODS CORP. | ||
| Date: December 3, 2024 | By: | /s/ John Keeler |
| John Keeler Executive Chairman and Chief Executive Officer | ||