SeaDragon raises more than expected in placement to investors

Tue, 28 Jan 2014

By Tina Morrison Jan 29 (BusinessDesk) – SeaDragon, which manufactures fish oils for health supplements, raised two thirds more money than expected from a sale of shares to its investors, allowing it to pay down debt and fund a new refined fish oil plant. SeaDragon raised $4.1 million from the share sale to existing investors, exceeding its $2.5 million target, the Auckland-based company said in a statement. The funds, combined with $2.5 million from the sale of a stake in Snakk Media and $2 million from a share placement, will be used for wo...

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