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Yotta Acquisition Corporation Announces Filing of Registration Statement on Form S-4 in Connection with Proposed Merger
Yotta Acquisition Corporation Announces Filing of Registration Statement on Form S-4 in Connection with Proposed Merger.
About this update from Naturalshrimp Incorporated
[{"type":"text","content":"\nYotta Acquisition Corporation (“Yotta”), a special purpose acquisition corporation announced that it has filed a Registration Statement on form S-4 in connection with its proposed acquisition of NaturalShrimp Incorporated (OTCQB: SHMP) (“NaturalShrimp”), a biotechnology aquaculture company that has developed and patented the first shrimp-focused commercially operational recirculating aquaculture system.\n\nOn October 24, 2022, Yotta and NaturalShrimp entered into a Business Combination Agreement for a proposed merger of the two companies. Under the terms of the Business Combination Agreement with Yotta, Yotta Merger Sub, Inc., a Nevada corporation (“Merger Sub”) and wholly owned subsidiary of Yotta Acquisition Corporation, will merge with and into NaturalShrimp, after which NaturalShrimp will be the surviving company and a wholly owned subsidiary of Yotta Acquisition Corp. and Yotta shall change its name to NaturalShrimp, Inc. The companies intend for Yotta’s common stock and warrants to be listed on the Nasdaq Capital Market.\n\nYotta Acquisition Corp. will issue 17.5 million of its common shares (current valuation of $175.0 million) to the security holders of NaturalShrimp. In addition, the stockholders of NaturalShrimp are entitled to receive an additional 5.0 million common shares (current valuation of $50.0 million) based on achieving certain revenue targets for 2024 and 5 million common shares (current valuation of $50 million) based on achieving certain revenue targets for 2025.\n\nAbout Yotta Acquisition Corporation\n\nYotta (Nasdaq: YOTA) is led by founder Hui Chen (CEO). Yotta is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses.\n\nAbout NaturalShrimp\n\nNaturalShrimp Incorporated is a publicly traded aquaculture Company, headquartered in Dallas, with production facilities located near San Antonio, Texas and Webster City, Iowa. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world ...