Nature’s Miracle Holding Inc. Enters into Investment Agreement with Future Tech Incorporated

Nature’s Miracle Holding Inc. (NASDAQ: NMHI) announced on November 22, 2024, that its wholly owned subsidiary, NM Data Inc., has entered into an investment agreement with Future Tech Incorporated, an Ohio-based company. The agreement outlines plans for the development and construction of a 50MW high density data center and a vertical farming facility in Stryker, Ohio.

As per the agreement, Future Tech will issue shares amounting to 51% of its outstanding shares to NM Data. Additionally, NM Data will make an initial investment of $200,000 into Future Tech, with a commitment to invest an additional $2.8 million within 12 months following the initial closing. Future Tech will establish a board of directors, with NM Data having the right to appoint a majority of the directors. Furthermore, NM Data will hold the authority, through the Board, to designate the Chief Executive Officer and Chief Financial Officer of Future Tech.

The transaction’s completion is subject to specific conditions, including the execution of an electricity sales and purchase agreement by Future Tech with a designated supplier, and the finalization of a ten-year lease agreement with the option to purchase a specified site in accordance with the terms outlined in the agreement.

This summary of the agreement is not exhaustive and interested parties are encouraged to review the complete text of the Agreement, which has been filed as Exhibit 10.1 in the Current Report on Form 8-K submitted to the Securities and Exchange Commission.

Under Item 9.01 of the filing, the Financial Statements and Exhibits section lists the Investment Agreement dated November 22 between NM Data Inc. and Future Tech Incorporated as Exhibit 10.1, along with a Cover Page Interactive Data File formatted in Inline XBRL under Exhibit 104.

Nature’s Miracle Holding Inc. has affirmed its status as an emerging growth company as defined by Rule 405 of the Securities Act of 1933 and has decided not to opt for an extended transition period for complying with revised financial accounting standards provided under Section 13(a) of the Exchange Act.

Following the filing, Chief Executive Officer Tie (James) Li duly signed the report on behalf of Nature’s Miracle Holding Inc. on November 27, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Nature’s Miracle’s 8K filing here.

About Nature’s Miracle

Nature’s Miracle Holding Inc, an agriculture technology company, provides lighting and grow media products to growers in the controlled environment agriculture industry in the United States and Canada. The company offers LED fixtures; high pressure sodium and ceramic metal halide fixtures; and electronic ballasts and control boxes.