Farmmi Shares Get Hammered After Raising $81M At Discount

by Shivani Kumaresan, Benzinga Staff Writer
September 13, 2021 1:51 PM | 1 min read |
  • Farmmi Inc FAMI announced the pricing of an underwritten public offering with expected proceeds of about $81 million.
  • Farmmi has priced the sale of 368 million ordinary shares at $0.22 per share.
  • The offer price represents a discount of 61.7% to Farmmi’s previous close on September 10.
  • The company intends to use the net proceeds from this offering for general corporate and working capital needs and capital expenditures.
  • The offer is expected to close on September 15, 2021.
  • Price Action: FAMI shares are trading lower by 50.4% at $0.29 on the last check Monday.
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