Texas, Aug. 7, 2022 /PRNewswire/ -- NuZee, Inc.
(NASDAQ: NUZE), a leading U.S. producer and co-packer of single
serve coffee formats, today announced the pricing of its
underwritten public offering of 4,200,000 shares of its common
stock at a public offering price of $0.82 per share, resulting in anticipated gross
proceeds to NuZee of approximately $3.4
million, before deducting underwriting discounts and
commissions and offering expenses.
Maxim Group LLC is acting as the sole book-running manager for
NuZee has granted the underwriter a 45-day option to purchase up
to an additional 630,000 shares at the public offering price, less
underwriting discounts and commissions. The public offering is
expected to close on or about August 10,
2022, subject to customary closing conditions.
The securities are being offered pursuant to an effective shelf
registration statement (including a prospectus) on Form S-3 (No.
333-248531) previously filed with and declared effective by the
U.S. Securities and Exchange Commission (the "SEC"). The securities
may be offered only by means of a written prospectus and prospectus
supplement that form a part of the effective registration
statement. A preliminary prospectus supplement relating to and
describing the terms of the public offering has been filed with the
SEC and is available on the SEC's website located at www.sec.gov.
A final prospectus supplement will be filed with the SEC and
will form a part of the effective registration statement.
Electronic copies of the preliminary prospectus supplement and,
when available, copies of the final prospectus supplement and
accompanying prospectus relating to the public offering may be
obtained by contacting Maxim Group LLC, 300 Park Avenue,
New York, NY 10022, or by
telephone at (212) 895-3745.
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
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. NuZee
cautions you that such statements are simply predictions and actual
events or results may differ materially. These statements reflect
NuZee's current expectations and NuZee does not undertake to update
or revise these forward-looking statements, even if experience or
future changes make it clear that any projected results expressed
or implied in this or other NuZee statements will not be realized.
Further, these statements involve risks and uncertainties, many of
which are beyond NuZee's control, which could cause actual results
to differ materially from the forward-looking statements.
Statements related to, among other things, the consummation of the
offering of common stock and potential changes in market conditions
constitute forward-looking statements. These risks and
uncertainties, many of which are beyond our control, include:
NuZee's plan to obtain funding for its operations, including
funding necessary to develop, manufacture and commercialize its
products; the impact to NuZee's business from COVID 19, including
supply chain interruptions; general market acceptance of and demand
for NuZee's products; NuZee's reliance on third-party roasters to
roast and blend coffee beans necessary to produce its products and
provide its co-packing services; NuZee's ability to successfully
achieve the anticipated results of strategic transactions; the fact
that certain of NuZee's single serve coffee products are expected
to be manufactured, processed and packaged for NuZee by its new
partner on a purchase order basis pursuant to the agreement between
the parties; the fact that sales are completed on a purchase order
basis without any written agreement between NuZee and its
customers; and NuZee's commercialization, marketing and
manufacturing capabilities and strategy. For a description of
additional factors that may cause NuZee's actual results,
performance or expectations to differ from any forward looking
statements, please review the information set forth in the 'Risk
Factors' and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the NuZee's public
reports and NuZee's other filings made with the SEC.
NuZee, Inc., (NASDAQ: NUZE) is a leading co-packing company for
single serve coffee formats that partners with companies to help
them develop within the single serve and private label coffee
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SOURCE NuZee, Inc.