AquaBounty Technologies, Inc. filed a Form 8-K on November 2, 2026, reporting the issuance on October 29, 2026 of an unsecured promissory note to Commas International LLC, an affiliate of Univest Securities, LLC, providing a bridge loan facility of up to $1,000,000.

Key Highlights

  • Bridge Loan Facility: The note allows advances up to an aggregate principal amount of $1,000,000, according to the filing.
  • Initial Advance: As of the filing date, the company had received advances totaling $500,000 under the note.
  • Interest Rate: The initial advance bears interest at 9% per annum, with accrued interest compounding annually if not paid when due.
  • Maturity: The initial advance is due on October 29, 2028, with all advances due no later than the twenty-fifth anniversary of the note date.
  • No Equity Component: The note is not convertible into equity securities, and no warrants or other equity securities were issued to the lender in connection with the note.
  • Lender Ownership: Univest Securities beneficially owns approximately 10.7% of the company's outstanding common stock following conversion on October 16, 2026.
  • Use of Proceeds: The company disclosed it intends to use advances for working capital and to meet short-term liquidity needs.

AquaBounty's October 2026 Bridge Loan: Terms and Related-Party Background

According to the filing, AquaBounty Technologies, Inc. (NASDAQ:AQB) entered into an unsecured promissory note with Commas International LLC on October 29, 2026. Commas International is described as an affiliate of Univest Securities, LLC and serves as the lender under the bridge loan arrangement. The company disclosed that the note permits the lender to make advances from time to time up to a maximum aggregate principal of $1,000,000, with $500,000 already advanced as of the report date.

The filing details that the initial advance carries an interest rate of 9% per annum. Accrued interest on each advance is payable within five business days after each anniversary of the note date and, if not paid when due, compounds annually. The initial advance matures on October 29, 2028, though the note permits prepayment in whole or in part at any time without premium or penalty. The filing also states that the note contains no financial covenants, no events of default, and no acceleration provisions other than the annual compounding of unpaid interest.

The filing provides context on the relationship between the company and Univest Securities. Univest Securities beneficially owns approximately 10.7% of the company's outstanding common stock following a conversion on October 16, 2026, and Bradley Richmond, the Chief Operating Officer of Univest Securities, beneficially owns approximately 5.5% of the outstanding common stock. The filing discloses that Univest Securities previously acted as placement agent for the company in multiple offerings between October 2025 and June 2026, receiving aggregate placement fees and expense reimbursements across those transactions. The filing notes that neither Commas International nor Univest Securities received a placement fee in connection with the issuance of the note.

What Was Disclosed

AquaBounty Technologies disclosed the issuance of an unsecured $1,000,000 promissory note to Commas International LLC, an affiliate of Univest Securities, with $500,000 advanced as of the report date, bearing 9% annual interest on the initial advance and maturing October 29, 2028.