Farmmi has entered into a securities purchase agreement with institutional investors to raise $1.03 million in gross proceeds. The company will sell 3,433,167 ordinary shares at $0.30 per share in a registered direct offering, along with Series A warrants to purchase up to 3,433,167 additional shares in a concurrent private placement.The Series A warrants are immediately exercisable at $0.75 per share, expiring in 5 years. The exercise price is subject to adjustments for certain events and resets. Maxim Group LLC is acting as the sole placement agent, receiving a 7.50% cash fee. The offering is expected to close on August 26, 2024.Farmmi has agreed to file a resale registration statement for the warrants and underlying shares within 30 days of closing. The company and its officers and directors have entered into a lock-up agreement for up to six months following the purchase agreement date.

Farmmi has entered into a securities purchase agreement with institutional investors to raise $1.03 million in gross proceeds. The company will sell 3,433,167 ordinary shares at $0.30 per share in a registered direct offering, along with Series A warrants to purchase up to 3,433,167 additional shares in a concurrent private placement.The Series A warrants are immediately exercisable at $0.75 per share, expiring in 5 years. The exercise price is subject to adjustments for certain events and resets. Maxim Group LLC is acting as the sole placement agent, receiving a 7.50% cash fee. The offering is expected to close on August 26, 2024.Farmmi has agreed to file a resale registration statement for the warrants and underlying shares within 30 days of closing. The company and its officers and directors have entered into a lock-up agreement for up to six months following the purchase agreement date.