LISHUI, China, March 22, 2021 /PRNewswire/ -- Farmmi, Inc.
("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture
products supplier in China, today
announced the pricing of an underwritten public offering
of 6,469,467 ordinary shares of the Company, at a price to the
public of $1.15 per share. The
closing of the offering is expected to occur on March 24, 2021, subject to customary closing
conditions. In addition, the Company has granted the underwriter an
option to purchase an additional 15 percent of the ordinary shares
offered in the public offering solely to cover over-allotments, if
any, exercisable for 25 days, after the closing of this offering,
which would bring total gross proceeds to approximately
$8.6 million. The Company
intends to use the net proceeds from this offering for general
corporate and working capital needs.
Aegis Capital Corp. is acting as the sole book-running
manager for the offering.
The ordinary shares described above are being offered by Farmmi,
Inc. 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 and accompanying prospectus describing the terms of the
proposed offering will be filed with the SEC and will be available
on the SEC's website located at http://www.sec.gov. Electronic
copies of the final prospectus supplement and the accompanying
prospectus may be obtained, when available, by contacting Aegis
Capital Corp., Attention: Syndicate Department, 810 7th Avenue,
18th floor, New York, NY 10019, by
email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.
Before investing in this offering, interested parties should read
in their entirety the prospectus supplement and the accompanying
prospectus and the other documents that the Company has filed with
the SEC that are incorporated by reference in such prospectus
supplement and the accompanying prospectus, which provide more
information about the Company and such offering.
This 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.
About Farmmi, Inc.
Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a
leading agricultural products supplier, processor and retailer of
Shiitake mushrooms, Mu Er mushrooms and other edible fungi.
For further information about the Company, please visit:
http://ir.farmmi.com.cn/.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including the potential impact of COVID-19 on our
business within and outside of China. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
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SOURCE Farmmi, Inc.