Farmmi, which processes and packages mushrooms for sale to distributors in China, announced terms for its IPO on Tuesday.
The Lishui, Zhejiang Province, China-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Farmmi would command a market value of $56 million.
Farmmi was founded in 2015 and booked $27 million in sales for the 12 months ended September 30, 2017. It plans to list on the Nasdaq under the symbol FAMI. ViewTrade is the sole bookrunner on the deal. Timing on pricing was not disclosed.
