Business
Farmmi, Inc. Closes $81 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares
LISHUI, China, Sept. 15, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today
About this update from Farmmi, Inc. Ordinary Shares
[{"type":"text","content":"LISHUI, China, Sept. 15, 2021 /PRNewswire/ -- Farmmi, Inc. (\"Farmmi\" or the \"Company\") (NASDAQ: FAMI), an agriculture products supplier in China, today announced that it has completed an underwritten public offering of ordinary shares and pre-funded warrants to purchase ordinary shares (\"Offering\"), with gross proceeds to the Company expected to be approximately $81 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The Offering included 368,261,717 of the Company's ordinary shares and pre-funded warrants to purchase ordinary shares. The ordinary shares were offered at a price of $0.22 per share. The pre-funded warrants were offered at the same price per share as the ordinary shares, less the $0.0001 per share exercise price of each pre-funded warrant. The Company intends to use the net proceeds from this Offering for general corporate and working capital needs and capital expenditures.\n\n \n \n \n \n \n \n\n \nAegis Capital Corp. acted as the sole book-running manager for the offering.\nThe Offering was made pursuant to an effective shelf registration statement on Form F-3 (No 333-254036) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on March 16, 2021. A final prospectus supplement (the \"Prospectus Supplement\") describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Farmmi, Inc.\nHeadquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is an agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi and other agricultural products. For further information about th...