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Yotta Acquisition Corporation (YOTA) has announced a proposed merger with NaturalShrimp Incorporated (SHMP), a biotechnology aquaculture company. The merger aims to enhance Yotta's market position by acquiring NaturalShrimp's patented shrimp farming technology. Yotta will issue 17.5 million shares valued at $175 million to NaturalShrimp's security holders, with potential additional shares based on revenue targets for 2024 and 2025. The merger is expected to have its common stock and warrants listed on the Nasdaq Capital Market, changing Yotta's name to NaturalShrimp, Inc.
NaturalShrimp, Inc. (OTCQB: SHMP), a biotechnology aquaculture company, announced its participation in the 10th Anniversary World Food Championships from November 9-13, 2022, in Dallas, TX. Chef Douwe Iedema, the company's Director of E-commerce, will judge two seafood panels and promote NaturalShrimp's sustainable shrimp products. The event coincides with their upcoming online ordering program featuring gourmet-grade shrimp and related culinary products. The company emphasizes its patented Recirculating Aquaculture System, which enables antibiotic-free shrimp production.
NaturalShrimp (OTC-PINK: SHMP) announced a merger with Yotta Acquisition Corp. (NASDAQ: YOTA) to boost production of sushi-grade shrimp and seafood. The deal could net $105 million in cash, with a total enterprise value projected at $275 million. As part of the merger, Yotta will issue 17.5 million shares and additional contingent shares based on revenue targets for 2024 and 2025. The companies plan to list on Nasdaq post-transaction, enhancing visibility and access to growth capital.
Yotta Acquisition Corporation (YOTA) has priced its initial public offering (IPO) of 10 million units at $10.00 each, set to trade on Nasdaq under the ticker 'YOTAU' starting April 20, 2022. Each unit includes one share of common stock, one redeemable warrant, and a right to receive one-tenth of a share upon business combination. The IPO is expected to close on April 22, 2022. The underwriters have a 45-day option to purchase an additional 1.5 million units. Proceeds from the IPO will fund potential business combinations in high-tech and other sectors.