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Farmmi Inc. (NASDAQ: FAMI) delivers agricultural innovations through its global network, specializing in edible mushrooms and agtech solutions. This page provides investors with essential updates on corporate developments, operational milestones, and strategic initiatives.
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Farmmi, Inc. (NASDAQ: FAMI) has announced the pricing of a public offering of 6,469,467 ordinary shares at $1.15 each, expected to close on March 24, 2021. The offering could yield gross proceeds of approximately $8.6 million, including an option for underwriters to purchase an additional 15% to cover over-allotments. Proceeds will be allocated for general corporate and working capital needs. Aegis Capital Corp. is the sole book-running manager for this offering.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced plans for an underwritten public offering of ordinary shares. The net proceeds will be used for general corporate and working capital needs. Details of the offering depend on market conditions, with no assurance of completion or specific terms. Aegis Capital Corp. is the sole book-running manager. This follows an effective shelf registration statement filed with the SEC on March 16, 2021. Investors are encouraged to review the preliminary prospectus supplement and accompanying documents for more information.
Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order from Zhejiang Forest Food Co., Ltd. for dried mushrooms and black fungus. The customer is a trading company supplying major global hotel and supermarket chains, including STANFORD and H-MART, to export these products to the U.S. Chairwoman and CEO Yefang Zhang emphasized the versatility and nutritional value of their mushrooms, along with a commitment to sustainable practices. This order enhances Farmmi's presence in the U.S. market, reflecting growth opportunities amid ongoing challenges.
Farmmi, Inc. (NASDAQ: FAMI) announced a follow-on customer order through its subsidiary Zhejiang Forest Food Co., Ltd. for dried mushrooms and black fungus. The order comes from a trading company supplying major hotel and supermarket chains, including the STANFORD hotel and H-MART supermarkets, for export to the UK. CEO Yefang Zhang highlighted the company's increasing sales momentum and focus on revenue growth, emphasizing the opportunity to expand market share in the fragmented healthy product industry.
Farmmi, Inc. (NASDAQ: FAMI), an agriculture products supplier in China, announced a new shipment of shiitake mushrooms from its subsidiary Zhejiang Forest Food Co., Ltd. to a long-term customer with over 100 retail stores in China and Canada. This order signifies a strong start to 2021, highlighting the company’s reputation for quality and potential revenue growth. CEO Yefang Zhang emphasized their commitment to meeting increased demand and strengthening customer relationships.
Farmmi, Inc. (NASDAQ: FAMI) has announced the shipment of a follow-on order for dried mushrooms and black fungus to a long-term customer in Jordan. Chairwoman and CEO Yefang Zhang highlighted the company's growing momentum, driven by changes in the sales force and targeted growth strategies implemented in 2019 and 2020. The company anticipates further acceleration in growth throughout 2021 as it scales its sales force and enhances customer interactions.
Farmmi, Inc. (NASDAQ: FAMI) announced a new export order for dried mushrooms from a long-term customer, targeting the Dubai market. Chairwoman and CEO Yefang Zhang highlighted the company's continuous expansion driven by a diverse customer base and a strong presence in both domestic and international markets, including Japan and North America. The company emphasizes health-conscious trends benefiting its sales initiatives developed in 2020, aiming to further penetrate global markets.
Farmmi, Inc. (NASDAQ: FAMI) reported a fiscal year 2020 net income of $0.82 million, or $0.05 per share, compared to a net loss of $0.31 million, or $0.03 per share in the previous year. Despite a revenue decline of 2.19%, totaling $30.17 million, the company managed to grow its customer base, with one customer now accounting for over 10% of total revenue. Key product revenue highlights included a 5.51% increase in Mu Er sales while Shiitake sales decreased by 6.77%. Farmmi aims for future growth by diversifying its customer base and expanding international sales.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, is expanding its international sales with a new multi-product order of dried Shiitake mushrooms to Israel through its subsidiary, Zhejiang Forest Food Co., Ltd. CEO Yefang Zhang emphasized the importance of this order in diversifying their sales base and increasing their global presence. The Company continues to focus on leveraging its product line and marketing efforts to build momentum throughout the year.
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