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Nature's Miracle Holding Inc. (NASDAQ: NMHI) is a burgeoning leader in the agriculture technology sector, specializing in providing cutting-edge Controlled Environment Agriculture (CEA) hardware products to growers across North America. The company's suite of products includes advanced horticultural lighting, sophisticated irrigation systems, efficient power distribution solutions, climate control systems, and innovative disinfection systems. These products are designed to optimize the operation of indoor growing settings, including greenhouses and vertical farming environments.
The company operates through its two wholly-owned subsidiaries, Visiontech Group, Inc. and Hydroman, Inc., which supply hydroponic products and grow lights to a substantial number of indoor growers in the region. Recently, Nature's Miracle has been making significant strides: on March 19, 2024, James Li, the Chairman and CEO, ceremoniously rang the closing bell at the Nasdaq Market in New York City, celebrating the company’s listing on the Nasdaq Global Market under the symbol 'NMHI' and its warrants on the Nasdaq Capital Market under the symbol 'NMHIW'.
Nature's Miracle is committed to promoting sustainable and efficient indoor farming. Their recent achievements include the development and shipment of the first two customized container farms in the 'MiracleTainer' series to Growterra, LLC. These modular indoor farming containers come equipped with LED grow lights, hydroponic systems, and sensors to monitor and optimize environmental conditions, significantly boosting production yields.
The company's ongoing projects and strategic agreements further underline its growth trajectory. The Memorandum of Understanding (MOU) with Future Tech Inc. aims to integrate AI computing data centers with vertical farming facilities, tapping into new markets in Ohio, Illinois, and Michigan. Additionally, a strategic partnership with Traxon Technologies Limited to distribute OSRAM general lighting luminaires in the U.S. is expected to drive revenue growth, with sales starting in Q3 2024 and projected minimum sales of $8 million by 2026.
Despite the recent cancellation of a planned merger with Agrify Corporation due to unfavorable market conditions, Nature's Miracle continues to focus on its core offerings and expanding its market presence. The company is also engaging international investor relations specialists, MZ Group, to boost its visibility and communicate its strategic milestones to the investment community.
With a mission to reduce carbon emissions, conserve water, and enhance energy efficiency in the CEA industry, Nature's Miracle is well-positioned to lead the next agricultural revolution, offering sustainable, high-yield farming solutions for both urban and traditional agricultural settings.
Nature's Miracle Holding (NASDAQ: NMHI) has announced its entry into a Stock Purchase Agreement to acquire a 90% equity stake in J&Y Marigold, a Toronto-based company developing a Bitcoin mining facility. The acquisition, valued at $5.32 million, involves a facility with a planned 14 megawatts (MW) power capacity. The transaction will be completed in two phases: Phase I (9MW) in Q1 2025 and Phase II (5MW) in Q2 2025.
This strategic move represents NMHI's expansion beyond its core vertical farming technology business into the cryptocurrency sector. The company aims to have the Bitcoin mining facility fully operational by first half 2025, positioning itself to capitalize on the growing cryptocurrency market while diversifying its portfolio.
Nature's Miracle Holding (NASDAQ: NMHI) announced key leadership changes with the appointment of Daphne Y. Huang as Chief Financial Officer and the transition of George Yutuc from CFO to Chief Operating Officer. Huang brings over 20 years of financial leadership experience across various sectors, including previous CFO roles at Gorilla Technology Group, GoFor Industries, and Taro Pharmaceutical Industries. Yutuc, who served as CFO until December 1, 2024, brings significant operational experience from his roles at companies like Karat Packaging. These strategic appointments aim to strengthen the company's executive team and support its growth strategy.
Nature's Miracle Holding (NASDAQ: NMHI) has formed NM Data Inc., a Nevada-based subsidiary, to develop Bitcoin mining facilities. NM Data has agreed to invest up to $3 million in Future Tech for a 51% ownership stake, to develop a 50MW Bitcoin mining and data center facility in Stryker, Ohio. The investment includes an initial $200,000 payment with the remaining $2.8 million due within 12 months. The deal is contingent on Future Tech securing an electricity agreement and a ten-year lease option. Additional capital will be required to complete the facility.
Nature's Miracle Holding (NASDAQ: NMHI) announced a $2.0 million debt-to-equity conversion agreement with management and debt holders at $0.088 per share. Chairman and CEO James Li is converting $577,000 of personal loans, while President Jonathan Zhang is converting outstanding trade payables from Uninet Inc. into equity. The conversion aims to reduce company debt and increase stockholder equity by $2.0 million, demonstrating management's commitment to the company's long-term development.
Nature's Miracle Holding (NASDAQ: NMHI) announced a 1-for-30 reverse stock split effective November 21, 2024, at 12:01 a.m. Eastern Time. The split aims to increase the stock's bid price to meet Nasdaq's minimum $1.00 per share requirement for continued listing. Every 30 shares will be combined into 1 share, with fractional shares rounded up. The stock will continue trading under 'NMHI' with a new CUSIP number 63903P 209. Stockholders' proportional ownership will remain unchanged, and Continental Stock Transfer & Trust Company will serve as the exchange agent.
Nature's Miracle Holding (NASDAQ: NMHI) reported Q3 2024 financial results with revenue growth of 13.5% to $3.1 million compared to Q3 2023. The company saw gross profit increase to $228,113 with margin expansion to 7.5%. However, net loss widened to $2.8 million from $0.4 million year-over-year. Notable developments include a $2.1 million debt reduction, receipt of a record $2.4 million LED grow lights order, and a $5.1 million sales agreement with What Rebates. The company also completed two public offerings raising $1.2 million in July and $3 million in November, while announcing expansion into EV-powered mobile vertical farms.
Nature's Miracle Holding (NASDAQ: NMHI) has closed its previously announced public offering, raising approximately $3 million in gross proceeds. The offering included 25,133,631 units at $0.1118 per unit and 1,700,000 pre-funded units at $0.1117 per unit. Each unit consists of one common stock share, one Series A Warrant, and one Series B Warrant. D. Boral Capital acted as the sole book running manager. The offering was conducted under the company's S-1 registration statements, with the final prospectus available on the SEC's website.
Nature's Miracle Holdings (NASDAQ: NMHI) has announced the pricing of a $3 million public offering. The offering consists of 24,137,360 units at $0.1118 per unit and 2,696,271 pre-funded units at $0.1117 per unit. Each unit includes one common stock share, one Series A Warrant, and one Series B Warrant. The pre-funded units include a pre-funded warrant instead of common stock. D. Boral Capital is acting as the sole book running manager, and the offering is expected to close around November 12, 2024.
Nature's Miracle Holding (NASDAQ: NMHI) announced that its subsidiary Hydroman will be renamed to Hydroman Electric as part of a strategic pivot into the EV market. The company will focus on marketing and distributing electric-powered agriculture and commercial vehicles across the United States and South America. This move aligns with their previous agreement with Robostreet to order approximately 150 electric trucks and represents their initiative to diversify into the electrification economy.
Nature's Miracle Holding (NASDAQ: NMHI) and its subsidiary Visiontech Group announced their participation in the 13th Annual MJBizCon, scheduled for December 3-6, 2024, at the Las Vegas Convention Center. The company will showcase its LED lighting, dehumidifier and indoor growing technologies at Booth 35009 in the North Hall. The Nature's Miracle team will be available to discuss hardware and design components for greenhouse and indoor-growing spaces. MJBizCon is recognized as the leading global cannabis business conference and tradeshow, attracting participants from entrepreneurs to nationwide brands and MSOs.
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