ONTARIO,
Calif., July 26, 2024 /PRNewswire/ -- Nature's
Miracle Holding Inc. (NASDAQ: NMHI)
("Nature's Miracle" or the "Company"), a leader in vertical farming
technology and infrastructure, today announced the pricing of
a public offering of 5,000,000 units (the "Units") consisting of
(i) one share of common stock, par value $
0.0001 per share ("Common Stock") and (ii) one Series A
Warrant to purchase one share of Common Stock ("Warrant") at a
public offering price of $0.24 per
Unit, for aggregate gross proceeds of $1.2
million, prior to deducting underwriting discounts and other
offering expenses. The closing of the offering is expected to occur
on or about July 29, 2024, subject to the satisfaction of
customary closing conditions.
The underwriter has been granted an option, exercisable within
45 days after the closing of this offering, to purchase shares of
the Company's common stock at a price of $0.24 per share
and/or Warrants at a price of $0.01 per Warrant, or any
combination of additional shares of common stock and Warrants,
representing, in the aggregate, up to 15% of the number of Units
sold in this offering and 15% of the Warrants underlying the Units
sold in this offering, in all cases less the underwriting discount
to cover over-allotments, if any.
EF Hutton LLC ("EF Hutton") is acting as the sole book running
manager for the offering. Sichenzia Ross Ference Carmel LLP is
acting as legal counsel to the Company, Lucosky Brookman LLP is
acting as legal counsel to EF Hutton.
The offering is being conducted pursuant to the Company's
registration statement on Form S-1, as amended July 22, 2024 (File No. 333-280066), as amended,
previously filed on June 6, 2024 with
the Securities and Exchange Commission ("SEC") that was declared
effective by the SEC on July 25,
2024. A final prospectus relating to the offering will be
filed with the SEC and will be available on the SEC's website at
www.sec.gov. Electronic copies of the final prospectus relating to
this offering, when available, may be obtained from EF Hutton LLC,
590 Madison Avenue, 39th Floor, New York,
NY 10022, Attention: Syndicate Department, or via email at
syndicate@efhuttongroup.com or telephone at (212) 404-7002.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing
agriculture technology company providing equipment and services to
growers in the Controlled Environment Agriculture ("CEA") industry
which also includes vertical farming in North America. Nature's Miracle offers
hardware to design, build and operate various indoor growing
settings including greenhouse and indoor-growing spaces. Nature's
Miracle, through its two wholly-owned subsidiaries (Visiontech
Group, Inc. and Hydroman, Inc.), provides grow lights as well as
other hydroponic products to hundreds of indoor growers in
North America.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: the
intended use of proceeds from the offering; successful launch and
implementation of Nature's Miracle's joint projects with
manufacturers and other supply chain participants of steel, rubber
and other materials;
changes in Nature's Miracle's strategy, future operations,
financial position, estimated revenues and losses, projected costs,
prospects and plans; Nature's Miracle's ability to develop and
launch new products and services; Nature's Miracle's ability to
successfully and efficiently integrate future expansion plans and
opportunities; Nature's Miracle's ability to grow its business in a
cost-effective manner; Nature's Miracle's product development
timeline and estimated research and development costs; the
implementation, market acceptance and success of Nature's Miracle's
business model; developments and projections relating to Nature's
Miracle's competitors and industry; and Nature's Miracle's approach
and goals with respect to technology. These forward-looking
statements are based on information available as of the date of
this press release, and current expectations, forecasts and
assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing views as of any subsequent date, and
no obligation is undertaken to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. As a
result of a number of known and unknown risks and uncertainties,
actual results or performance may be materially different from
those expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ include: the
ability to maintain the listing of the Company's shares on Nasdaq;
changes in applicable laws or regulations; the effects of the
coronavirus (COVID-19) and any future outbreaks on Nature's
Miracle's business; the ability to implement business plans,
forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which
Nature's Miracle's operates; the risk that Nature's Miracle's and
its current and future collaborators are unable to successfully
develop and commercialize Nature's Miracle's products or services,
or experience significant delays in doing so; the risk that the
Company may never achieve or sustain profitability; the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk that the Company experiences difficulties in managing
its growth and expanding operations; the risk that third-party
suppliers and manufacturers are not able to fully and timely meet
their obligations; the risk that Nature's Miracle's is unable to
secure or protect its intellectual property; the possibility that
Nature's Miracle's may be adversely affected by other economic,
business, and/or competitive factors; and other risks and
uncertainties described in Nature's Miracle's filings from time to
time with the SEC.
Contacts
George Yutuc
Chief Financial Officer
George.Yutuc@nature-miracle.com
MZ North America
Shannon Devine /
Rory Rumore
Main: 203-741-8811
NMHI@mzgroup.us
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SOURCE Nature's Miracle Holding Inc.