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 a significant multi-product export order to Japan for its premium dried mushrooms and black fungus from its subsidiary, Zhejiang Forest Food Co., Ltd. This order reflects the company's ongoing growth and a strong demand for healthy food options globally. Chairwoman and CEO Yefang Zhang highlighted Japan as a key market, emphasizing rising sales due to health trends and the nutritional benefits of mushrooms. Farmmi's investments in supply chain and packaging are expected to enhance its ability to meet large-scale orders, driving further business development.
Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order for export to the U.S. from its subsidiary, Zhejiang Forest Food Co., Ltd. This order includes high-quality dried mushrooms and black fungus, targeting major clients like the STANFORD hotel chain and H-MART supermarket. According to CEO Yefang Zhang, the company is experiencing sales momentum and expanding its product range and distribution network. The statement emphasizes Farmmi's commitment to quality and reliability as key drivers for increasing market share.
Farmmi, Inc. (NASDAQ: FAMI), an agriculture products supplier in China, announced that its underwriter has fully exercised an option to purchase an additional 970,419 ordinary shares at $1.15 per share. This brings total gross proceeds to approximately $8.6 million, before expenses. The offering was conducted under an effective F-3 registration statement filed with the SEC. Aegis Capital Corp. served as the Sole Book-Running Manager. The press release includes forward-looking statements, warning that actual results may vary significantly from the company’s expectations.
Farmmi, Inc. (NASDAQ: FAMI) has announced a significant boost in sales momentum through its subsidiary, Zhejiang Forest Food Co., Ltd., which secured a multi-product export order for dried Shiitake mushrooms and black fungus to Israel. The company's Chairwoman, Yefang Zhang, highlighted the success of their strategy to collaborate closely with customers and distributors in both domestic and international markets. With the global mushroom market projected to reach $69.3 billion by 2024, Farmmi is focused on scaling its operations and enhancing brand awareness to capture growth opportunities.
Aegis Capital Corp. has successfully acted as the Sole Bookrunner for a $7.5 million Follow-On Offering for Farmmi, Inc. (NASDAQ: FAMI). This fundraising effort reflects Farmmi's commitment to expanding its operations as a supplier of agricultural products, particularly focusing on small packaged edible fungi, including Shiitake and Mu Er mushrooms. Established in May 2003 by Yefang Zhang and Zhengyu Wang, Farmmi has positioned itself strongly in the market.
Farmmi, Inc. (NASDAQ: FAMI) has successfully completed an underwritten public offering of 6,469,467 ordinary shares at $1.15 per share, totaling approximately $8.6 million in gross proceeds, including an option for underwriters to purchase additional shares. The funds will be allocated for general corporate and working capital needs. The offering was facilitated by Aegis Capital Corp., and the shares were registered under Form F-3 with the SEC.
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.
FAQ
What is the current stock price of Farmmi (FAMI)?
What is the market cap of Farmmi (FAMI)?
What products does Farmmi, Inc. specialize in?
Where does Farmmi primarily sell its products?
What recent achievements has Farmmi made?
How has Farmmi managed cost and inflation pressures?
What new market segments has Farmmi entered?
What is the purpose of Farmmi's share consolidation?
Who is the Chairwoman and CEO of Farmmi?
How does Farmmi support its growth strategy?
What is Farmmi's financial condition as of March 31, 2023?
What future plans does Farmmi have?
