Transaction Information
ONTARIO, Calif., Jan. 13, 2025 /PRNewswire/ — Nature’s Miracle Holding, Inc. (Nasdaq: NMHI) (“Nature’s Miracle”), a growing agriculture technology company providing equipment and services to growers, announced that it entered into a Securities Purchase Agreement (“SPA”) with a single institutional investor (“Investor”) on January 10, 2025. The SPA allows Nature’s Miracle, subject to customary conditions, to sell up to $29.7 million in the aggregate of a newly-designated class of convertible preferred stock to the Investor.
The Investor agreed to provide Nature’s Miracle up to $29.7 million available in tranches. The initial tranche in the amount of $2,700,000 will be funded with $1,800,000 funded within one business day following Closing and the remaining $900,000 funded within one business day following the date on which the shares of common stock into which the shares of convertible preferred stock are convertible are registered for resale pursuant to an effective registration statement. Subsequent tranches of up to $27,000,000 may be funded in increments of up to $2,700,000 per tranche subject to certain conditions. The Investor will also receive certain warrants to purchase shares of common stock upon the funding of each tranche.
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. Nature’s Miracle has also developed a robust pipeline to build commercial-scale greenhouse in the U.S. and Canada to meet the growing needs of fresh and local vegetable products. Nature’s Miracle has established its first manufacturing footprint in North America with its grow-light assembly plant in Manitoba, Canada and is expected to set up additional manufacturing/assembly facilities in North America.
About D. Boral Capital
D. Boral Capital LLC is an investment bank headquartered in New York which provides advisory and financing solutions to middle market and emerging growth companies. The Company has a proven track record of offering strategic guidance to clients across the globe in any sector, with access to capital from the USA, Asia, Europe, UAE, and Latin America.
D. Boral Capital is a leader on Wall Street, having aggregated over $23 billion in capital across approximately 300 transactions through various product types.