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.
Aegis Capital Corp. acted as the sole book-running manager
for the offering.
The 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@example.com, or by telephone at (212) 813-1010.
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
About Farmmi, Inc.
Headquartered 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 the Company,
please visit: http://ir.farmmi.com.cn/.
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 statements relating to the offering,
including as to the intended use of proceeds. 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.