Business
TDH Holdings, Inc. Announces the Entry into an Agreement and Closing of a Registered Direct Placement of $9.9 Million of Common Shares and Warrants
QINGDAO, China, Nov. 3, 2021 /PRNewswire/ -- TDH Holdings, Inc. (NASDAQ: PETZ) ("TDH" or the "Company"), a PRC-based company that specializes in the
About this update from Tdh Holdings, Inc.
[{"type":"text","content":"QINGDAO, China, Nov. 3, 2021 /PRNewswire/ -- TDH Holdings, Inc. (NASDAQ: PETZ) (\"TDH\" or the \"Company\"), a PRC-based company that specializes in the development, manufacturing and sales of pet food products in China and beyond, today announced that it entered into a securities purchase agreement with certain investors for a registered direct offering and closed the offering, raising approximately $9.9 million in gross proceeds from the sale of 15,000,000 common shares at a price of $0.64 per share and warrants at a price of $0.01 per warrant to purchase an aggregate of 30,000,000 common shares, before deducting placement agent fees and other standard offering expenses. The warrants are exercisable at $1.47 per share. \nThe Company plans to use the net proceeds from this offering on strategic acquisitions and investments in complementary business. However, the Company has no current understandings, agreements or commitments for any specific material acquisition at this time. Boustead Securities, LLC. 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 TDH Holdings, Inc.\nFounded in April 2002, TDH Holdings, Inc. (the \"Company\") is a developer, manufacturer and distributer of a variety of pet food products under multiple brands that are sold in the China, Asia and Europe. More information about the Company can be found at www.tdhpet.com.\nForward Looking Statements\nNo statement made in this press release should be interpreted as an offer to pu...