News & Events zu Farmmi Inc (FAMI)FAMIFarmmi Inc

Farmmi Signs Acquisition Agreement to Acquire 100% Equity of Four Seasons Holding Group

Farmmi announced that the company has signed an acquisition framework agreement with the shareholders of Four Seasons Holding Group Brazil for the purpose of acquiring 100% of the equity interests in the company. The proposed transaction is intended to further expand the company's business presence in the agricultural supply chain sector in Brazil and globally. Farmmi proposes to acquire 100% of the equity interests in the company. The final acquisition price will be determined based on the fair valuation of the company's equity interests conducted by a qualified independent valuation firm. The acquisition consideration is expected to be paid through the issuance of Farmmi Class A ordinary shares; the number of shares to be issued and other terms will be determined in subsequent definitive transaction documents.

Farmmi Prices Public Offering Expected to Raise $3M

Farmmi announced the pricing of a firm commitment underwritten public offering with gross proceeds to the company expected to be approximately $3M, before deducting underwriting fees and other offering expenses payable by the company. The offering consists of the sale of 12M Class A ordinary shares and/or pre-funded warrants to purchase Ordinary Shares. The public offering price per share is 25c. The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until exercised in full. Aggregate gross proceeds to the company are expected to be approximately $3M. The transaction is expected to close on or about June 30, subject to the satisfaction of customary closing conditions. Aegis Capital Corp. is acting as the sole book-running manager for the offering.

Farmmi Subsidiary Receives Hazardous Materials Permit in California

Farmmi announced that its U.S. subsidiary, SuppChains Group, has received a Hazardous Materials Annual Permit from San Bernardino County CUPA, or Certified Unified Program Agency, California. The CUPA permit was issued to SuppChains Group's facility in Chino, California under the county's hazardous materials management program. The permit is valid from April 1, through March 31, 2027 and certifies that SuppChains facility may handle or store certain special hazardous materials in its operations. The permit was issued under the regulatory framework of the California Environmental Protection Agency unified hazardous materials program. As a condition of the CUPA permit to operate, SuppChains Group Inc. must comply with applicable regulatory requirements set forth in the specified hazardous materials and waste programs.