search icon

    Market Snapshot

    • S&P Futures

      3,809.5

    • Dow Futures

      30,868

    • Nasdaq Futures

      11,633.25

    blog search icon

    Do You Know Why NaturalShrimp (SHMP) Stock Dropped 6%?

    By ST Staff

    Jun 30,2021

    6:02 AM UTC

    Last session, NaturalShrimp Inc (OTCQB: SHMP) saw its share price drop -6.59% to $0.4252, bringing its market cap to $256.40M. NaturalShrimp stock traded 4.02M shares recently, exceeding its average daily volume of 3.78M shares. Further, the SHMP stock has traded between $0.4236 and $0.4650. In the pink sheets SHMP, there are 603.02M shares outstanding vs 451.47M float. SHMP stock fell following the closing of a share offering.

    The SHMP offering was what?

    With facilities located near San Antonio, Texas and Webster City, Iowa, NaturalShrimp is a publicly traded aquaculture company based in Dallas. In addition to providing fresh, never frozen shrimp, SHMP develops patented technology to produce safe, nontoxic shrimp in enclosed saltwater systems without using antibiotics or toxic chemicals. Gourmet-grade Pacific white shrimp can be produced anywhere in the world by SHMP systems.

    NaturalShrimp yesterday announced closure of a transaction to make available 7,500,000 shares of the Company’s common stock for proceeds of $3,000,000 through a registered direct offering.

    • The offering of SHMP was pursuant to a shelf registration statement on Form S-3.
    • In this transaction, SHMP sold its shares at a price of $0.40 per share.
    • SHMP has now raised $18M with an average price of $0.525 per share under the S-3.
    • SHMP intends to use the proceeds in connection with previously announced letter of intents and to expand its NaturalShrimp Iowa business.
    • Among the offered securities were warrants for the purchase of 1,100,000 shares of common stock for a price of $0.05.
    • SHMP’s securities are being offered pursuant to an effective shelf registration statement it filed with the Securities and Exchange Commission (“SEC”) on March 22, 2021.
    • SEC will soon issue the final prospectus supplements describing and relating to the SHMP’s registered direct offering and they will be available online.

    This week, NaturalShrimp (SHMP) also announced its attendance at TRA Marketplace, a trade show held by the Texas Restaurant Association each year.

    TRA’s show will take place in San Antonio, TX, July 10-12, 2021. A NaturalShrimp Chef’s Table will be held at the conference on Sunday, July 11, and Monday, July 12, 2021, where management of SHMP will also be on hand to answer any questions.

    SHMP eyeing NASDAQ listing:

    NaturalShrimp (SHMP) has recently appointed Lake Street Capital Markets, LLC as its Capital Markets advisor, which will provide assistance to NaturalShrimp (SHMP) with capital markets, mergers and acquisitions, licensing, and strategic investment advice. As part of its engagement with this opportunity, SHMP anticipates completing its uplisting to the Nasdaq Stock Market early in the third quarter of 2021.

    More From Stocks telegraph