LISHUI, China, July 19,
2023 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the
"Company") (NASDAQ: FAMI), an agriculture products supplier in
China, today announced that it
closed a private placement transaction (the "Private Placement"),
raising approximately US$8.0 million
in gross proceeds, from the sale of 21,052,632 of the Company's
ordinary shares (the "Shares") to various purchasers (the
"Purchasers"), priced at US$0.38 per
share.
On July 12, 2023, the Company
entered into a securities purchase agreement with certain non-U.S.
purchasers (the "Purchasers") for the aforementioned placement
offering. The Shares were sold in transactions exempt from
registration under the Securities Act of 1933, as amended, in
reliance on Regulation S thereunder. Each of the Purchasers
understands that the Shares have not been registered under the
Securities Act and such Purchasers may not sell or otherwise
dispose of the Shares without registration under the Securities Act
and under applicable state securities or "Blue Sky" laws, or
pursuant to an exemption therefrom.
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 the
Shares 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.
Established in 1998, Farmmi, Inc. (NASDAQ: FAMI) is an
agricultural products supplier, processor and retailer of edible
mushrooms like Shiitake and Mu Er, as well as other agricultural
products. Farmmi sells its products both online and offline. For
further information about the Company, please visit Farmmi's
website.
Forward-Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase or sell any security. Such an offer can only
be made in accordance with the Securities Act of 1933, as amended,
and applicable state securities laws. Certain statements in this
press release concerning our future growth prospects are
forward-looking statements regarding our future business
expectations intended to qualify for the "safe harbor" under the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding lingering effects of
the Covid-19 pandemic on our customers' businesses and end
purchasers' disposable income, our ability to raise capital on any
particular terms, fulfillment of customer orders, fluctuations in
earnings, fluctuations in foreign exchange rates, our ability to
manage growth, our ability to realize revenue from expanded
operation and acquired assets in China, our ability to attract and retain
skilled professionals, client concentration, industry segment
concentration, and general economic conditions affecting our
industry. Additional risks that could affect our future operating
results are more fully described in our United States Securities
and Exchange Commission filings. These filings are available at
www.sec.gov. Farmmi may, from time to time, make additional written
and oral forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and our reports to shareholders. In addition, please
note that any forward-looking statements contained herein are based
on assumptions that we believe to be reasonable as of the date of
this press release. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
View original
content:https://www.prnewswire.com/news-releases/farmmi-announces-closing-of-us8-0-million-private-placement-301881333.html
SOURCE Farmmi, Inc.