(PRESS RELEASE) DONGGUAN, CHINA — 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, announced that it closed a previously announced offering with institutional investors, raising approximately $5.66 million in gross proceeds from the sale of 1,966,251 common shares at a price of $2.88. 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.
FT Global Capital, Inc. acted as the exclusive placement agent in connection with the offering.
These 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 was filed with the SEC on February 24, 2022.
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, see the Form 6-K filed with the SEC at www.sec.gov.
