Business
Dogness (International) Corporation Announces Entry into Agreement for Registered Direct Offering of Approximately $5.66 Million of Class A Common Shares
DONGGUAN, China, Feb. 22, 2022 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer
About this update from Dogness (international) Corporation
[{"type":"text","content":"DONGGUAN, China, Feb. 22, 2022 /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 has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of 1,966,251 Class A common shares at a price of $2.88 per share. The aggregate gross proceeds from the sale of the securities, before deducting fees payable to the placement agent and other estimated offering expenses payable by the Company will be approximately $5.66 million.\n\nThe net proceeds from this offering will be used for general corporate and working capital purposes. The completion of the placement is expected to occur on or about February 24, 2022, subject to the satisfaction of customary closing conditions.\nThese securities are being offered through a prospectus supplement pursuant to the Company's effective shelf registration statement on Form F-3 (SEC File No. 333-229505) and base prospectus contained therein. A shelf registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission (the \"SEC\") on February 13, 2019. A prospectus supplement related to the offering will be filed with the SEC.\nFT Global Capital, Inc. acted as the exclusive placement agent in connection with the offering.\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.\nFor further information regarding this transaction, please see the Form 6-K to be filed with the SEC.\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 between pets and pet caregivers. The Company ensures industry-leading quality...