PLANO,
Texas, May 9, 2024 /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 entered into a private placement transaction (the
"Private Placement") for US$5.0
million in gross proceeds, from the sale of 2,000,000 of the
Company's Class A common shares (the "Shares") for US$2.50 per Share.
The Shares are being sold to certain non-U.S.
purchasers (the "Purchasers") in a transaction exempt from
registration under the Securities Act of 1933, as amended, in
reliance on Regulation S thereunder. Each of the Purchasers
understands that the Shares have not been registered under the
Securities Act and such Purchasers may not sell or otherwise
dispose of the Shares without registration under the Securities Act
and under applicable state securities or "Blue Sky" laws, or
pursuant to an exemption therefrom. Closing of the Private
Placement is subject to customary closing conditions.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the Shares in any state or 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
jurisdiction.
About Dogness
Dogness (International) Corporation was founded
in 2003 from the belief that dogs and cats are important,
well-loved family members. Through its smart products, hygiene
products, health and wellness products, and leash products,
Dogness' technology simplifies pet lifestyles and enhances 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.
For investor and media inquiries, please
contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
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SOURCE Dogness (International) Corporation
