Farmmi to Sell $1 Million in Shares, Warrants in Private Offering

MT Newswires Live08-23

Farmmi (FAMI) said Friday that it has agreed to sell $1 million worth of stocks and warrants in two separate offerings.

The Chinese agricultural products supplier said it is selling 3.4 million ordinary shares to certain institutional investors in a registered direct offering for $0.30 per share. It is also selling the investors warrants to purchase up to 3.4 million ordinary shares for $0.30 per warrant.

The warrants, which are immediately exercisable, have an initial exercise price of $0.75 per share, according to the company.

The offering is expected to close on Monday, subject to customary closing conditions.

Shares of the company sank nearly 74% in recent Friday premarket activity.

Price: 0.1500, Change: -0.42, Percent Change: -73.91

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment