ONTARIO,
Calif., Jan. 17, 2025 /PRNewswire/
-- Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's
Miracle" or the "Company"), a leader in vertical farming technology
and infrastructure, today issued the following statement in
response to the delisting notice (the "Notice") from The Nasdaq
Stock Market LLC ("Nasdaq"), which indicated that the Nasdaq
Hearings Panel has determined to delist the Company's common stock
and warrants from Nasdaq due to the Company's failure to comply
with minimum shareholder's equity requirement under Nasdaq Listing
Rule 5550(b)(1). Trading in the Company's common stock and warrants
was suspended effective at the open of business on January 15, 2025. The Company's common stock and
warrants continue to trade on OTC Pink Sheet until the Company
relists with Nasdaq.
The Company believes it presented a strong plan to the Nasdaq
Hearings Panel, including that the Company entered into a
Securities Purchase Agreement ("SPA") with an institutional
investor on January 10, 2025. The SPA
was disclosed to the public on January 13,
2025, along with details of its closing conditions. This
announcement, however, led to a 40% decline in the Company's stock
price on the same day.
Nature's Miracle is working with legal counsel to ensure
compliance with all regulatory requirements and to communicate
material developments transparently. The Company is not aware of
any specific activity contributing to the stock's volatility on
January 15, 2025. The Company was not
involved with the issuance of the January
14, 2025 press release by D. Boral, the Company's placement
agent for the transaction.
Nature's Miracle is evaluating its options for relisting with
Nasdaq after the company addresses the deficiency issue. The
Company remains steadfast in its commitment to restoring its Nasdaq
listing and enhancing shareholder value. To this end, it is
actively exploring strategic options, including potential mergers,
acquisitions, and partnerships, to strengthen its financial
position and operational capabilities.
Nature's Miracle is also working closely with its legal and
investor relations teams to provide timely updates to shareholders
and other stakeholders. The Company deeply values the continued
trust and support of its investors and remains committed to
transparent and constructive communication throughout this
process.
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing
agriculture technology company providing products and services to
growers in the Controlled Environment Agriculture ("CEA") industry
around the world. The company has recently launched EV
and bitcoin business, all energy dependent as
CEA.
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.
For more information, please contact:
Nature's Miracle Holding,
Inc.
Investor Relations Department
ir@nature-miracle.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nature's Miracle Holding Inc.