DONGGUAN, China, June 3, 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 closed a previously announced
offering with institutional investors, raising approximately
$12 million in gross proceeds from
the sale of (i) an aggregate of 3,636,365 Class A common shares and
(ii) warrants to purchase an aggregate of 2,181,819 Class A common
shares to the investors. 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.
These securities were 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 was filed with and declared effective by the Securities
and Exchange Commission (the "SEC") on February 13, 2019. A prospectus supplement
related to the offering was filed with the SEC on June 3, 2022.
FT Global Capital, Inc. acted as the exclusive placement agent
in connection with the offering.
Kaufman & Canoles, P.C. acted as counsel to the Company, and
Morgan, Lewis & Bockius LLP acted as counsel to the placement
agent in connection with the offering.
This 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.
About Dogness
Dogness (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 through its fully integrated vertical
supply chain and world-class research and development capabilities,
which has resulted in over 200 patents and patents pending. Dogness
products reach families worldwide through global chain stores and
distributors. For more information, please visit:
ir.dogness.com.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase or sell any security. Such an offer can only
be made in accordance with the Securities Act of 1933, as amended,
and applicable state securities laws. Certain statements in this
press release concerning our future growth prospects are
forward-looking statements regarding our future business
expectations intended to qualify for the "safe harbor" under the
Private Securities Litigation Reform Act of 1995, which involve a
number of risks and uncertainties that could cause actual results
to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include,
but are not limited to, risks and uncertainties regarding lingering
effects of the Covid-19 pandemic on our customers' businesses and
end purchasers' disposable income, our ability to raise capital on
any particular terms, fulfillment of customer orders, fluctuations
in earnings, fluctuations in foreign exchange rates, our ability to
manage growth, our ability to realize revenue from expanded
operation and acquired assets in China and the U.S., our ability to attract and
retain highly skilled professionals, client concentration, industry
segment concentration, reduced demand for technology in our key
focus areas, our ability to successfully complete and integrate
potential acquisitions, and unauthorized use of our intellectual
property and general economic conditions affecting our industry.
Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange
Commission filings. These filings are available at www.sec.gov.
Dogness may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
Company's filings with the Securities and Exchange Commission and
our reports to shareholders. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of the date of this
press release. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/dogness-international-corporation-closes-12-million-offering-301561126.html
SOURCE Dogness International Corporation
