Welcome to our dedicated page for NATURE'S MIRACLE HLDG news (Ticker: NMHI), a resource for investors and traders seeking the latest updates and insights on NATURE'S MIRACLE HLDG stock.
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 Inc. (NMHI) has signed a non-binding letter of intent to acquire Pangea Global Technologies, a LED lighting and technology solutions provider. The proposed acquisition involves 3,500,000 shares consideration and $2.0 Million in working capital.
Pangea, with manufacturing facilities in Mexico, operates through three brands: Visionaire Lighting, RapidGrow LED Technologies, and Pangea Software. The company reported $38.5 million in revenue and $2 million adjusted EBITDA for 2023. Pangea maintains 350,000 square feet of R&D and manufacturing space, serving major retailers like Walmart, Target, and government agencies including NASA through a network of 48 agencies with over 600 sales representatives.
The acquisition aims to create synergies by leveraging Pangea's U.S. distribution network and expertise in LED lighting technology, potentially strengthening Nature's Miracle's position in vertical farming infrastructure.
Nature's Miracle Holding (NASDAQ: NMHI) announced its delisting from Nasdaq due to non-compliance with minimum shareholder's equity requirements. Trading of the company's common stock and warrants was suspended on January 15, 2025, and has moved to OTC Pink Sheet. The company had previously entered into a Securities Purchase Agreement with an institutional investor on January 10, 2025, which was disclosed on January 13, leading to a 40% stock price decline.
The company is actively working with legal counsel to ensure regulatory compliance and is exploring options for relisting with Nasdaq. Strategic initiatives under consideration include potential mergers, acquisitions, and partnerships to strengthen its financial position. The company maintains its commitment to transparent communication with shareholders and stakeholders throughout this process.
Nature's Miracle Holding (NASDAQ: NMHI), a vertical farming technology company, announced receiving a delisting notification from Nasdaq on January 13, 2025. The delisting is due to the company's failure to meet the minimum shareholder's equity requirement under Nasdaq Listing Rule 5550(b)(1).
Trading of NMHI's common stock and warrants will be suspended on Nasdaq effective January 15, 2025. The company has 15 days to appeal the decision to the Nasdaq Listing and Hearing Review Council, which can also independently review the decision within 45 calendar days.
Following the Nasdaq suspension, NMHI's common stock and warrants are expected to be quoted on the OTC Pink market under the symbols 'NMHI' and 'NMHW' respectively.
Nature's Miracle Holding (Nasdaq: NMHI) has entered into a Securities Purchase Agreement (SPA) with an institutional investor on January 10, 2025, enabling the company to sell up to $29.7 million in convertible preferred stock.
The funding will be available in tranches, with an initial tranche of $2.7 million split into two parts: $1.8 million funded within one business day after closing and $900,000 following registration statement effectiveness. Subsequent tranches of up to $27 million may be funded in $2.7 million increments, subject to specific conditions including minimum trading volume of $500,000, daily VWAP above $1.50, and a 60-day waiting period between tranches.
The investor will receive warrants to purchase common stock with each tranche funding. The agreement includes requirements for effective registration of convertible shares and limitations on outstanding preferred stock value.
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.
FAQ
What is the current stock price of NATURE'S MIRACLE HLDG (NMHI)?
What is the market cap of NATURE'S MIRACLE HLDG (NMHI)?
What products does Nature's Miracle Holding Inc. provide?
What are Nature's Miracle's recent achievements?
Who are the subsidiaries of Nature's Miracle?
What is the significance of the MOU with Future Tech Inc.?
What is the 'MiracleTainer' series?
Why was the merger with Agrify Corporation terminated?
How does Nature's Miracle plan to increase its market visibility?
What is the strategic agreement with Traxon Technologies Limited about?
What are the goals of Nature's Miracle?
How does Nature's Miracle contribute to the CEA industry?
