Farmmi, Inc. Announces Closing of $3.0 Million Underwritten Public Offering

About this update from Farmmi, Inc. Ordinary Shares

LISHUI, China, June 30, 2026 /PRNewswire/ -- Farmmi, Inc. (NASDAQ: FAMI) (the "Company"), an agriculture products supplier in China and a logistics and supply chain services provider in the United States, today announced the closing of its previously announced firm commitment underwritten public offering. Gross proceeds to the Company were approximately $3.0 million, before deducting underwriting fees and other offering expenses payable by the Company. The offering closed on June 30, 2026. The offering consists of the sale of 7,000,000 Class A ordinary shares (the "Ordinary Shares") and pre-funded warrants to purchase 5,000,000 Ordinary Shares (the "Pre-Funded Warrant"). The public offering price per Ordinary Share was $0.25 (or $0.24999 for each Pre-Funded Warrant, which is equal to the offering price per Ordinary Share sold in the offering minus an exercise price of $0.00001 per Pre-Funded Warrant). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until exercised in full. For each Pre-Funded Warrant sold in the offering, the number of Ordinary Shares in the offering was decreased on a one-for-one basis.The transaction closed on June 30, 2026. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.Solely to cover over-allotments, if any, the Company granted Aegis Capital Corp. a 45-day option to purchase up to additional 1,800,000 Ordinary Shares (15.0% of the number of Ordinary Shares sold in the offering). The purchase price to be paid per additional Ordinary Share will be equal to the public offering price of one Ordinary Share, less the underwriting discount.Aegis Capital Corp. is acting as the sole book-running manager for the offering. Kaufman & Canoles, P.C. is acting as U.S. counsel to the Company. Lucosky Brookman LLP is acting as U.S. counsel to Aegis Capital Corp.The offering was made pursuant to an effective shelf registration statement on Form F-3 (No. 333-280348) previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on June 27, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and is available on the SEC's website located at www.sec.gov. Electronic copies of the final prospectu...

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