Farmmi Share Consolidation to Regain Nasdaq Compliance

Farmmi has announced a share consolidation of 1-for-12 to regain compliance with Nasdaq listing standards. The consolidation will become effective on March 17, 2025, and will reduce the number of outstanding shares from 15,007,123 to approximately 1,250,500. The company's authorized shares will also be reduced, and a new CUSIP Number will be issued. The consolidation aims to maintain Farmmi's listing on Nasdaq.

Farmmi, Inc. (NASDAQ: FAMI), a leading agricultural products supplier and processor based in Lishui, China, announced on March 12, 2025, that it will undergo a 1-for-12 share consolidation to regain compliance with Nasdaq listing standards [1]. The consolidation, which becomes effective on March 17, 2025, aims to enable Farmmi to maintain its listing on the NASDAQ Capital Market.

At the annual general meeting held on February 25, 2025, Farmmi shareholders approved the consolidation of the company's authorized shares at a ratio of one-for-twelve. Consequently, each twelve ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without requiring any action from shareholders. No fractional shares will be issued, and any fractional shares will be redeemed by the company [1].

The share consolidation will reduce the number of Farmmi's issued and outstanding ordinary shares from approximately 15,007,123 to approximately 1,250,500 (subject to the redemption of fractional shares at the closing price of the ordinary shares on March 17, 2025). The company's authorized shares will also be reduced from 500,000,000 to 41,666,667 ordinary shares [1].

Farmmi continues to meet all other listing standards on the NASDAQ Capital Market. Following the share consolidation, the company's ordinary shares will trade on the NASDAQ Capital Market on a split-adjusted basis, under the same symbol "FAMI" but under a new CUSIP Number, G33277149 [1].

Established in 1998, Farmmi is a prominent player in the agricultural products industry, specializing in the supply, processing, and retail of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. The company sells its products both online and offline [1].

References:
[1] Farmmi Announces 1-for-12 Share Consolidation. (2025, March 12). Retrieved from https://www.prnewswire.com/news-releases/farmmi-announces-1-for-12-share-consolidation-302400014.html