- Dogness Corp DOGZ has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of about $12 million of Class A common shares and warrants at $3.30 per unit.
- The units will consist of one common share and 0.6 warrants to purchase one common share.
- The company will issue 3.6 million shares and warrants to purchase an aggregate of 2.2 million shares to the investors.
- The warrants are initially exercisable at $4.20 per share and have a term of 36 months.
- Dogness intends to use the proceeds for general corporate and working capital purposes. The placement is expected to close on June 3, 2022.
- Price Action: DOGZ shares are trading lower by 23.5% at $3.06 on the last check Wednesday.
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