Farmmi prices $3M public offering at $0.25 per share

Farmmi, Inc. (NASDAQ: FAMI), a China-based agricultural products supplier and U.S. logistics services provider, announced the pricing of a firm commitment underwritten public offering expected to raise approximately $3.0 million in gross proceeds, before underwriting fees and other expenses.

The offering consists of 12,000,000 Class A ordinary shares priced at $0.25 per share, or pre-funded warrants at $0.24999 each, with an exercise price of $0.00001 per warrant. The pre-funded warrants are immediately exercisable and remain exercisable until exercised in full.

The transaction is expected to close on or about June 30, 2026, subject to customary closing conditions. The company stated it intends to use net proceeds for general corporate purposes and working capital.

Aegis Capital Corp. has been granted a 45-day over-allotment option to purchase up to 15% of the ordinary shares sold in the offering at the public offering price, less the underwriting discount. Aegis Capital Corp. is serving as sole book-running manager for the offering.

The offering is being made under a shelf registration statement on Form F-3 previously filed with the U.S. Securities and Exchange Commission and declared effective on June 27, 2024.

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