Farmmi Announces Pricing Of $1M Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
Farmmi, Inc. (NASDAQ:FAMI) announced a $1M registered direct offering, selling 3,433,167 ordinary shares and Series A warrants to institutional investors. The offering price is $0.30 per share and warrant, with warrants exercisable at $0.75. The offering is expected to close by August 26, 2024.
August 23, 2024 | 12:30 pm
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Farmmi, Inc. is conducting a $1M registered direct offering, selling shares and warrants at $0.30 each. This could lead to short-term stock price volatility due to potential dilution and market reaction to the offering.
The issuance of new shares and warrants at a price below the current market price can lead to dilution, potentially causing downward pressure on the stock price. The market's reaction to the offering terms and the potential for future dilution from warrant exercises could also contribute to short-term volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100