Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
If you would like to send us an article, contact Margaret Stacey
   


NaturalShrimp could receive up to $105 million in net cash proceeds at the consummation of the transaction, assuming no redemptions.

NaturalShrimp Incorporated Announces Merger Agreement with Nasdaq-Listed Yotta Acquisition Corp.

  (UNITED STATES, 10/26/2022)

NaturalShrimp, Incorporated (OTCQB: SHMP) (“NaturalShrimp”), a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused commercially operational RAS (Recirculating Aquaculture System), and Yotta Acquisition Corporation (NASDAQ: YOTA) (“Yotta”), a special purpose acquisition company, has announced the signing of a definitive agreement (the “Business Combination Agreement”) for a proposed merger of the two companies.

Under the Business Combination Agreement, NaturalShrimp will merge with a wholly owned subsidiary of Yotta. The companies intend for Yotta’s common stock to continue to be listed on the Nasdaq Capital Market.

 https://admin.seafood.media/cm/photolib/images/download/62605_494x332_72_DPI_0.jpg
Merger to accelerate commercialization and production ramp up of farm-to-table sushi grade shrimp and fresh seafood including planned U.S. facility expansion.

Assuming no redemptions by Yotta public stockholders, upon closing, the combined entity could have access to as much as $105 million in net cash (after paying transaction expenses) from the Yotta trust account. Final proceeds will depend upon redemption rates of current Yotta stockholders at the consummation of the proposed Transaction.

 
Gerald Easterling.

Gerald Easterling, CEO of NaturalShrimp, said: “This business combination with Yotta has the potential to significantly accelerate our efforts for commercialization and the ramp up of production of our fresh, land-based gourmet-grade shrimp at the largest indoor farming facilities in the U.S. We also expect that the merger will provide us with additional capital to advance facility expansion efforts in strategic markets in the U.S., including Florida, Nevada, and the Northeast".

"Our goal is to rapidly build market share in the supply-constrained, premium segment of the market for large shrimp which sell at 20%-30% price premiums utilizing our propriety, proven and scalable technologies and production system. Combined with our capital efficient model, the transaction has the potential to put NaturalShrimp on the fast track to rollout across the 10 largest population centers in the U.S.”

Hui Chen, CEO of Yotta, added: “We believe NaturalShrimp’s patented technologies, attractive business model and unit economics provides a premium pricing opportunity for fresh, locally grown product that is of superior quality and sustainable. We further believe that NaturalShrimp is well-positioned to become a premier provider of shrimp in the U.S., and we are pleased that Yotta’s stockholders will have the opportunity to invest and help fill the gap in the large and growing shrimp market with land-based gourmet-grade shrimp without the use of antibiotics, probiotics or toxic chemicals.”

 https://admin.seafood.media/cm/photolib/images/download/46658_494x196_72_DPI_0.jpg
NaturalShrimp, Inc. has developed patented proprietary technology to produce fresh, gourmet-grade shrimp without the use of antibiotics, probiotics or toxic chemicals.

The Business Combination Agreement has been approved by the Board of Directors of each of NaturalShrimp and Yotta.

Certain stockholders of both NaturalShrimp and Yotta have entered into agreements pursuant to which they have committed to vote their respective shares in favor of the business combination.

The NaturalShrimp - Yotta Business Combination Agreement

Under the terms of the Business Combination Agreement with Yotta, Yotta Merger Sub, Inc., a Nevada corporation (“Merger Sub”) and wholly owned subsidiary of Yotta Acquisition Corporation, will merge with and into the NaturalShrimp, after which the NaturalShrimp will be the surviving company and a wholly owned subsidiary of Yotta Acquisition Corp. and Yotta shall change its name to NaturalShrimp, Inc.

 https://admin.seafood.media/cm/photolib/images/download/57024_494x255_72_DPI_0.jpg
NaturalShrimp and Yotta Acquisition Corp. to conduct a global marketing campaign to educate institutional and other investors about its system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals.

Yotta Acquisition Corp. will issue 17.5 million of its common shares (current valuation of $175.0 million) to the security holders of NaturalShrimp. In addition, the stockholders of Natural Shrimp are entitled to receive an additional 5.0 million common shares (current valuation of $50.0 million) based on achieving certain revenue targets for 2024 and 5 million common shares (current valuation of $50 million) based on achieving certain revenue targets for 2025. The transactions contemplated by the Business Combination Agreement and the ancillary agreements thereto are referred to, collectively, as the “Transaction.”

The Business Combination Agreement contains covenants in respect of non-solicitation of alternative acquisition proposals and a termination fee payable to Yotta in certain circumstances.

 https://admin.seafood.media/cm/photolib/images/download/57025_494x239_72_DPI_0.jpg
From hatchery to nursery to grow out to final harvest, NaturalShrimp's technologies improve health and survivability while increasing feed conversion rates. Aquaculture is simply revolutionary.

The proposed business combination is expected to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions, including the effectiveness of the registration statement on Form S-4 that Yotta is required to file with the U.S. Securities and Exchange Commission (“SEC”), required Nasdaq approval, and the approval of the proposed Transaction and the Business Combination Agreement by a majority of the stockholders of NaturalShrimp and a majority of Yotta stockholders voting to approve thereon.

Post-closing, the combined company Board of Directors will include seven directors designated by NaturalShrimp. Additional information may be found in the Current Reports on Form 8-K being filed by NaturalShrimp and Yotta with the U.S. Securities and Exchange Commission (“SEC”) in connection with the announcement of the execution of the Business Combination Agreement.

NaturalShrimp intends to use the proceeds from the proposed Transaction to accelerate commercialization and production ramp up of its farm-to-table sushi grade shrimp and fresh seafood.

 https://admin.seafood.media/cm/photolib/images/download/56455_494x280_72_DPI_0.jpg
NaturalShrimp's systems require a small footprint and minimal power.

Advisors

Joseph Gunnar & Co., LLC and Roth Capital Partners, LLC, are serving as advisors to NaturalShrimp. Lucosky Brookman LLP is serving as legal counsel to NaturalShrimp.

Chardan is serving as financial advisor to Yotta. Loeb & Loeb LLP is serving as legal counsel to Yotta.

About NaturalShrimp

NaturalShrimp, Incorporated is a publicly traded aquaculture Company, headquartered in Dallas, with production facilities located near San Antonio, Texas and Webster City, Iowa.
The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.

About Yotta Acquisition Corporation

Yotta is led by founder Hui Chen (CEO). Yotta is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses.

Although there is no restriction or limitation on what industry or geographic region its target operates in, Yotta intends to focus on high technology, blockchain, software and hardware, ecommerce, social media and other general business industries globally.

Source: NaturalShrimp

Previous News

[email protected]
www.seafood.media


Information of the company:
Address: La Coste - PO Box 760669
City: San Antonio
State/ZIP: Texas (TX 78245-0669)
Country: United States
Phone: +1 888-791-9474
E-Mail: [email protected]
Skype: https://instagram.com/2020naturalshrimp
More about:




Approval / Accreditation / Certified / Oversight by...
USDA/USDC & FDA 
 Print


Click to know how to advertise in FIS
MORE ARTICLES
Aquaculture Innovation: Experts Address Hidden Challenges of Waterborne Feeding
Automation Revolutionizes Fish Processing: Working For or Against Your Business?
Pangasius Emerges as Strategic Protein Choice for Food Businesses Amid Shifting Consumer Demands
THAIFEX - ANUGA ASIA 2025 Drives Global Food & Beverage Dealmaking in Bangkok
From 'Mission Impossible' to Market Leader: Skretting China Pioneers Top-Quality RAS Feed for Domestic Salmon Boom
BioMar Norway Secures ASC Certification, Bolstering Sustainable Aquaculture Feed Supply
Wärtsilä Unveils Major Leap in Ammonia Engine Efficiency, Promises Near-Zero GHG Emissions for Shipping
Maruha Nichiro Forges Comprehensive Logistics and Business Partnership with SENKO Group Holdings
Ultra Fish Group Strengthens Market Position with Acquisition of Severny Kristall
Nomad Foods Navigates Retail Destocking and Inflation, Reports Q1 2025 Results with Strong Margin Expansion
Tackling FLAG Emissions: A Critical Step Toward Low-Carbon Aquaculture
Smoking success with digital control
Royal Greenland publishes its annual report for 2024
THAIFEX – ANUGA ASIA 2025: Driving Innovation & Global Opportunities in F&B for Asia Pacific
SalMar – Merger with Wilsgård AS and resolution to increase the share capital
Kawasaki Heavy Industries Unveils Sustainable Aquaculture Innovation to Boost Global Food Security
Simplify Feeding Operations with the New Fishtalk 5
Maersk's Logistics Trend Map Identifies Top Ten Disruptors Shaping Global Supply Chains
Supplying healthy and sustainable salmon
VIKING Achieves Record Revenue, Sets New Strategic Goals
More Articles...

Lenguaje
FEATURED EVENTS
  
TOP STORIES
Vietnam's Tuna Exports Rebound in May 2025 Amid Global Trade Shifts
Viet Nam Producers Navigate US Tax Concerns and Middle East Instability by Diversifying Markets. HANOI – After facing headwinds in early 2025, Vietnam's tuna exports saw a significant recovery in May, r...
Argentina's Shrimp Industry Faces Unprecedented Crisis, Billions in Losses Amid Labor Dispute
Argentina Five Thousand Workers Unemployed, Over US$200 Million in Export Losses as Unions and Fishing Companies Lock Horns Over Wages. BUENOS AIRES – Argentina's vital shrimp fishing industry is grappli...
Anchovy-Dominated Diets Threaten West Coast Salmon, Study Reveals Fatal Vitamin Deficiency
United States New Research Links Ocean Shifts to Thiamine Deficiency, Killing Half of Endangered Chinook Fry and Deepening Salmon Crisis. SAN FRANCISCO, CA – A widespread vitamin deficiency, triggered by an ...
Indonesian Fisheries Soar: Southeast Sulawesi Exports to US, Thailand Confirmed to Meet Global Standards
Indonesia Ministry of Marine Affairs and Fisheries Greenlights Over $1.7 Million in High-Quality Seafood, Signaling Growth for Eastern Indonesia's Sector. JAKARTA – Indonesia's Ministry of Marine Affairs...
 

Umios Corporation | Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Aquaculture Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2025 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER