Business
Dogness Closes $7.4 Million Offering
PLANO, Texas, Jan. 20, 2021 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a
About this update from Dogness (international) Corporation
[{"type":"text","content":"PLANO, Texas, Jan. 20, 2021 /PRNewswire/ -- Dogness (International) Corporation (\"Dogness\" or the \"Company\") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that it closed a previously announced offering with institutional investors, raising approximately $7.4 million in gross proceeds from the sale of 3,455,130 common shares at a price of $2.15 and Class A warrants to purchase an aggregate of 1,727,565 common shares, before deducting placement agent fees and other standard offering expenses. The Company also issued a warrant to purchase 276,410 common shares to the placement agent. The Class A and placement agent warrants are exercisable at $2.70 per share. The Company plans to use the net proceeds from the offering for working capital and general business purposes, as it continues to focus on the growth of its business enhancing pet lifestyles through an expanding portfolio of traditional and smart tech products. \n\n \n \n \n \n \n \n\n \nFT Global Capital, Inc. acted as the exclusive placement agent in connection with the offering.\nThese securities were sold through a prospectus supplement pursuant to the Company's effective shelf registration statement and base prospectus contained therein. A shelf registration statement relating to these securities was filed with and declared effective by the Securities and Exchange Commission (the \"SEC\"). A prospectus supplement related to the offering will be filed with the SEC.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. For further information regarding this transaction, please see the Form 6-K filed with the SEC at www.sec.gov.\nAbout Dogness\nDogness (International) Corporation was founded in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance the relationship b...