Welcome to our dedicated page for Farmmi news (Ticker: FAMI), a resource for investors and traders seeking the latest updates and insights on Farmmi stock.
Farmmi, Inc. (NASDAQ: FAMI) is a well-established supplier, processor, and retailer of agricultural products, specializing in edible mushrooms such as Shiitake and Mu Er, alongside other agricultural products. Founded in 1998, the company has expanded its reach by selling products both online and offline. Farmmi's offerings are known for their high quality, making them popular both within mainland China and internationally.
Recently, Farmmi announced a significant high-volume order for the UK market, half of which is for new customers. This order includes dried and sliced mushrooms, showcasing the company's growing global footprint. Farmmi's strong manufacturing, supply chain, and logistics partnerships have helped contain costs and combat inflation, thereby maintaining stable pricing for its customers. The company aims to use this momentum to further solidify its global brand and achieve profitable revenue growth.
For the six months ending March 31, 2023, Farmmi reported record revenue driven by new growth segments. This achievement came despite a challenging supply chain and logistics environment. The company’s focus on its core agricultural products, combined with new ventures into tapioca and cornstarch trading, underscores its ambition to establish a scalable platform for matching suppliers and customers.
In September 2023, Farmmi shareholders approved a one-for-eight share consolidation to regain compliance with Nasdaq listing requirements. This move is expected to help the company maintain its market presence while continuing to focus on long-term growth and value creation for its shareholders.
Farmmi has also made strides in expanding its customer base in emerging markets. The company received repeat high-volume orders for its dried Shiitake mushrooms from customers in Lebanon, Chile, Canada, and Jordan, among others. These orders highlight Farmmi's commitment to customer support and its ability to leverage local sales and distribution networks effectively.
Overall, Farmmi's robust business model, diversified product portfolio, and strategic market expansions position it well for future growth. The company's strong financial health, exemplified by a cash balance of $69.4 million as of March 31, 2023, and successful handling of operational challenges, further bolster its growth prospects.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., has received certifications for compliance with the BRC Global Standard for Food Safety and the HACCP system. These certifications validate the company's commitment to food safety and enhance its credibility among international buyers. Chairwoman Yefang Zhang highlighted the importance of compliance in business operations following a thorough audit, which assessed the company's safety management and product oversight.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiaries, Zhejiang Farmmi Biotechnology Co., Ltd. and Zhejiang Farmmi Food Co., Ltd., have received the Lishui ShanGeng international certification. This certification reinforces Farmmi's competitive advantage by confirming the high quality of its health and wellness food products. The certification, issued by the Lishui City ecological agriculture association, meets strict standards for organic cultivation and pollution-free products. Chairwoman and CEO Yefang Zhang expressed pride in this achievement, emphasizing the company's commitment to providing green and safe agricultural products.
Farmmi (NASDAQ: FAMI) announced a CEO update detailing an acquisition aimed at expanding its market presence. The company will acquire Jiangxi Xiangbo Agriculture and Forestry Development Co. for approximately RMB 70 million. This acquisition enhances Farmmi's forest-related business, focusing on bamboo, camellia oil, and Chinese fir trees. Additionally, the company is launching four new subsidiaries in the health and wellness sector to address the increasing demand for healthy food and elderly care. These strategic moves are projected to drive revenue and profit growth, enhancing shareholder value.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forest Food Co., Ltd., secured a new multi-product order for export to Israel. This order includes dried whole and sliced Shiitake mushrooms, as well as dried black fungus. CEO Yefang Zhang highlighted strong demand in both traditional and new markets, while emphasizing the company’s robust financial position and commitment to increasing shareholder value.
Farmmi, Inc. (NASDAQ: FAMI) recently announced a new product order for its dried whole Shiitake mushrooms from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd. The order is aimed at exporting the mushrooms to Southwest Asia, reflecting the company's ongoing growth strategy. Chairwoman and CEO Yefang Zhang emphasized the focus on organic growth and leveraging improved financial positions and established supply chain relationships. The announcement suggests a positive trajectory for the company amidst ongoing discussions with customers regarding growth opportunities.
Farmmi, Inc. (NASDAQ: FAMI) has successfully completed an underwritten public offering, raising $81 million through the sale of ordinary shares and pre-funded warrants. The offering was managed by Aegis Capital Corp., which acted as the sole bookrunner. Farmmi specializes in agricultural products, particularly various types of edible fungi. This capital influx aims to strengthen its market position and support growth initiatives.
Farmmi, Inc. (NASDAQ: FAMI) has successfully completed an underwritten public offering, generating approximately $81 million in gross proceeds. The offering included 368,261,717 ordinary shares and pre-funded warrants priced at $0.22 per share. The funds will be utilized for general corporate purposes, working capital, and capital expenditures. Aegis Capital Corp. served as the sole book-running manager for the transaction, which was conducted under an effective shelf registration statement filed with the SEC.
Farmmi, Inc. (NASDAQ: FAMI) has announced the pricing of an underwritten public offering of ordinary shares and pre-funded warrants, expecting gross proceeds of approximately $81 million. The Offering involves 368,261,717 shares priced at $0.22 each. The funds will be utilized for general corporate needs and capital expenditures. Closing is anticipated on September 15, 2021, contingent upon customary conditions. Aegis Capital Corp. is the sole book-running manager for the offering, which is governed by an effective shelf registration statement with the SEC.
Farmmi, Inc. (NASDAQ: FAMI) announced a proposed underwritten public offering of ordinary shares and pre-funded warrants to purchase ordinary shares. The pre-funded warrants will be offered at the same price as the ordinary shares, minus a $0.001 exercise price. The net proceeds are intended for general corporate needs and capital expenditures. The offering is subject to market conditions, and completion time, size, and terms are uncertain. Aegis Capital Corp. is managing the offering, which is made under a previously declared effective registration statement.
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