NM Holding, Nature’s Miracle and Lakeshore Acquisition II Corp. Announce Closing of Business Combination
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The completion of the business combination between Nature's Miracle Holding Inc. and Lakeshore Acquisition II Corp. signifies a pivotal moment for both entities. The merged entity's commencement of trading on the Nasdaq under a new ticker symbol represents a liquidity event that could potentially attract new investors and increase the visibility of the company in the financial markets. The alignment of a Controlled Environment Agriculture (CEA) technology company with a special purpose acquisition company (SPAC) reflects the continuing trend of SPACs facilitating public market entry for innovative companies in high-growth sectors.
Investors should closely monitor the financial performance post-merger, as the integration of operations and realization of any synergies could impact the company's bottom line. The track record and expertise of the new management team, particularly the CEO and CFO, will be under scrutiny as stakeholders look for strategic leadership capable of driving growth in the competitive CEA landscape. The composition of the board, which includes individuals with diverse backgrounds, may offer a strategic advantage through varied expertise and governance practices.
Controlled Environment Agriculture (CEA) is an innovative and rapidly growing industry, driven by factors such as food security concerns, sustainability trends and technological advancements. The merger could provide Nature's Miracle with access to capital and resources to scale operations, innovate and potentially capture a larger market share. The CEA technology sector is highly competitive, with numerous players vying for leadership in a market that is becoming increasingly important as global food demand rises and traditional farming faces challenges from climate change.
Investors and market participants should consider the competitive landscape and the company's position within it, assessing their technological edge, customer base and growth strategy. The impact of the merger on the company's market reach and operational efficiencies will be key factors in determining its future success. Additionally, the timing of the merger and commencement of trading could be influenced by broader market conditions, which may affect investor sentiment and the performance of the company's securities.
From a legal perspective, the role of the advisors in the transaction is noteworthy. Maxim Group LLC and the law firms Loeb & Loeb LLP and Sichenzia Ross Ference Carmel LLP provided financial and legal guidance, respectively. The due diligence performed by these advisors is crucial to ensure that the transaction complies with regulatory requirements and serves the best interests of both companies' shareholders. The successful closing of the merger indicates that the legal structures and terms negotiated were satisfactory to all parties involved and passed regulatory scrutiny.
Going forward, the new leadership will need to navigate the regulatory landscape associated with public companies, including SEC filings, corporate governance standards and continuous disclosure obligations. The expertise of the legal counsel will remain important as the company seeks to maintain compliance and capitalize on growth opportunities within the legal frameworks governing publicly traded companies and the CEA industry.
Upland, CA, March 11, 2024 (GLOBE NEWSWIRE) -- Nature’s Miracle Holding Inc. (“the Company”), Nature’s Miracle, Inc. (“Nature’s Miracle”), a growing Controlled Environment Agriculture (CEA) technology company, and Lakeshore Acquisition II Corp., a special purpose acquisition company (Nasdaq: LBBB) (“Lakeshore”), announced today the closing of their previously announced business combination (the “Transaction”). The securities of the Company are expected to begin trading under the new ticker symbol “NMHI” on the Nasdaq Global Market, and the warrants are expected to begin trading under the new ticker symbol “NMHIW” on the Nasdaq Capital Market, on March 12, 2024.
Management
The Company will be led by Tie (James) Li, the Chairman of the Board and Chief Executive Officer, along with George Yutuc as the Chief Financial Officer. The Board of the combined company will consist of Tie (James) Li, Zhiyi (Jonathan) Zhang, Charles Jourdan Hausman, H. David Sherman, and Jon M. Montgomery.
Advisors
Maxim Group LLC acted as the exclusive financial advisor to Lakeshore in connection with the Transaction. Loeb & Loeb LLP acted as legal counsel to Lakeshore. Sichenzia Ross Ference Carmel LLP acted as legal counsel to Nature’s Miracle.
About Nature’s Miracle
Nature's Miracle (www.nature-miracle.com) is a growing agriculture technology company providing technology, products and services to growers in the Controlled Environment Agriculture ("CEA") industry in North America. Nature's Miracle offers hardware to design, build and operate various indoor growing settings including greenhouse and indoor-growing spaces. Nature's Miracle provides grow lights as well as other hydroponic products to hundreds of indoor growers in North America. Nature's Miracle also provides vertical farming solutions including containerized vertical farm as well as other forms of indoor growing solutions.
About Lakeshore
Prior to the business combination, Lakeshore was a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Management was led by Bill Chen, the Chairman of the Board and Chief Executive Officer,.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future results of operations and financial position, the Company's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated product candidates, and expected use of proceeds, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of the Company’s securities on Nasdaq following the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs related to the business combination; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties to be identified in the proxy statement/prospectus relating to the business combination, including those under "Risk Factors" therein, and in other filings with the SEC made by the Company. Moreover, the Company operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law. the Company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. the Company gives no assurance that it will achieve its expectations.
Contacts
George Yutuc
Nature’s Miracle Holding Inc.
George.yutuc@nature-miracle.com
FAQ
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