DONGGUAN, China, July 19, 2021 /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 $3.96 million in gross proceeds from the sale
of 2,178,120 common shares at a price of $1.82. The Company also issued warrants to
purchase 174,249 common shares to the placement agent exercisable
at $1.82 per share. 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 will be filed with
the SEC.
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 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.
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SOURCE Dogness International Corporation