PLANO,
Texas, May 17, 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 closed a private placement transaction (the
"Private Placement"), raising US$5.0
million in gross proceeds, from the sale of 2,000,000 of the
Company's Class A common shares (the "Shares") to various
purchasers (the "Purchasers"), priced at US$2.50 per share.
On May 9, 2024, the Company
entered into a securities purchase agreement with certain non-U.S.
purchasers (the "Purchasers") for the aforementioned placement
offering. The Shares were sold in transactions 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.
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