Farmmi Closes $7.4 Million Underwritten Public Offering of Ordinary Shares
PRNewswire, 24 March 2021
Farmmi, Inc. (“Farmmi” or the “Company”) (NASDAQ: FAMI), an agriculture products supplier in China, today announced the closing 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. 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.
