NuZee Shares Plummet Post $3.4M Equity Offering

NuZee Inc (NASDAQ:NUZE) has priced its underwritten public offering of 4.2 million shares at a public offering price of $0.82 per share.
The offer price is a discount of 27% on NuZee’s closing price of $1.125 on August 5, 2022.
The offering will yield the company about $3.4 million of proceeds.
NuZee has granted the underwriter a 45-day option to purchase up to an additional 630,000 shares at the public offering price.
Maxim Group LLC is acting as the sole book-running manager for the offering.
The public offering is expected to close on or about August 10, 2022.
Price Action: NUZE shares are trading lower by 19.83% at 0.8899 in premarket on the last check Monday.