Core Viewpoint - Nature's Miracle Holding Inc. has announced a debt-to-equity conversion agreement that will reduce its debt by $2.0 million and increase stockholder equity by the same amount, aligning management interests with shareholders [1][3]. Group 1: Debt Conversion Details - The company management and other debt holders have signed agreements to convert $2.0 million of debt into equity at a price of $0.088 per share, based on the closing price on November 19, 2024 [1]. - James Li, Chairman and CEO, is converting $577,000 of his personal loans into equity, demonstrating commitment to the company's future [2]. - Jonathan Zhang, President, is converting outstanding trade payables due to Uninet Inc. into equity, further supporting the debt reduction strategy [2]. Group 2: Company Overview - Nature's Miracle is a leader in vertical farming technology and infrastructure, providing equipment and services to the Controlled Environment Agriculture (CEA) industry, including vertical farming in North America [4]. - The company offers hardware for designing, building, and operating indoor growing environments, including greenhouses and indoor spaces, through its subsidiaries [4].
Nature's Miracle Holding Inc. Announces $2.0 Million Debt to Equity Conversion by Management and Related Debt Holders