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Lakeshore Acquisition II Corp. (Nasdaq: LBBB) is a special purpose acquisition company (SPAC) that has recently entered into a series of agreements to merge with Nature’s Miracle Holdings Inc., a front-runner in the Controlled Environment Agriculture (CEA) industry. The anticipated merger will see the combined entity rebranded as Nature's Miracle Holding Inc., with a focus on leveraging advanced agritech and sustainable practices to revolutionize indoor farming and greenhouse operations across North America.
Nature’s Miracle Holdings Inc. operates through two key subsidiaries—Visiontech Group, Inc. and Hydroman, Inc.—providing essential hardware and hydroponic products to hundreds of indoor growers. Their services include designing, building, and operating indoor growing setups such as greenhouses and vertical farms. The company has a strong emphasis on integrating modern technology, including advanced LED lighting, automated watering systems, and AI-based solutions to enhance crop yields and sustainability.
Recent achievements highlight Nature’s Miracle's strategic collaborations to bolster its market footprint. Notably, the company has entered into a non-binding Memorandum of Understanding (MOU) with PowerGrow Inc. to develop a nationwide portfolio of clean energy enclosed greenhouses, powered by up to 40MW of clean power generation systems. Additionally, Nature’s Miracle has signed a Master Supply Agreement with Growterra, LLC, to enhance containerized farming units housed within repurposed shipping containers, incorporating hydroponic systems and sensors to optimize environmental conditions.
Further advancing its vision, Nature’s Miracle announced a Joint Development Agreement with Afafa, Inc. to develop the MiracleFarm '5+1' container units, which are projected to be cost-effective and high-yield alternatives to conventional vertical farming facilities. These self-contained units use industrial robots and can be powered by renewable energy sources, aiming to reduce the high initial and operating costs associated with vertical farming.
With a manufacturing footprint in Manitoba, Canada, and plans to expand facilities in North America, Nature’s Miracle is well-positioned to meet the growing demand for fresh, locally-grown produce. The upcoming merger with Lakeshore Acquisition II Corp. is expected to provide significant growth opportunities and access to public capital markets, thereby fueling the company's ambitious expansion plans.
Lakeshore's shareholders and prospective investors are advised to review the Registration Statement on Form S-4 and the proxy statement for detailed information regarding the merger and the future prospects of Nature’s Miracle.
Nature's Miracle Holding Inc. (NASDAQ: NMHI), a vertical farming technology leader, has announced the pricing of a $1.2 million public offering. The offering consists of 5,000,000 units priced at $0.24 per unit, each including one common stock share and one Series A Warrant. The closing is expected around July 29, 2024. EF Hutton is the sole book-running manager, with an option to purchase additional shares and warrants within 45 days. The offering is conducted under the company's Form S-1 registration statement, effective July 25, 2024. This announcement does not constitute an offer to sell or solicitation of an offer to buy these securities.
Nature's Miracle, a leader in Controlled Environment Agriculture, has announced a definitive merger with Lakeshore Acquisition II Corp. (Nasdaq: LBBB). The merger, valued at approximately $265 million, is expected to finalize in Q1 2023 and will allow Nature's Miracle to list on Nasdaq as Nature's Miracle Holding Inc.. Nature's Miracle provides integrated solutions for indoor farming and has begun establishing manufacturing operations in North America. This strategic partnership aims to enhance the development of commercial greenhouses across the U.S. and Canada.
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