PLANO,
Texas, Aug. 10, 2022 /PRNewswire/ -- NuZee, Inc.
(NASDAQ: NUZE), a leading U.S. producer and co-packer of single
serve coffee formats, today announced the closing of its previously
announced underwritten public offering of 4,200,000 shares of its
common stock at a public offering price of $0.82 per share. Gross proceeds before deducting
underwriting discounts, commissions and other offering expenses are
approximately $3.4 million.
Maxim Group LLC acted as sole book-running manager for the
offering.
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 securities were 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
were offered only by means of a written prospectus and prospectus
supplement that form a part of the effective registration
statement. A final prospectus supplement 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. Electronic 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 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 the registration or qualification under the securities laws of
any such state or other jurisdiction.
Forward-Looking
Statements
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. 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.
About NuZee
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
category.
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SOURCE NuZee, Inc.