Form 8-K - Current report
October 20 2023 - 4:37PM
Edgar (US Regulatory)
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2023-10-18
2023-10-18
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 18, 2023
NUZEE,
INC.
(Exact
name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of
incorporation or organization |
|
001-39338
(Commission
File No.) |
|
38-3849791
(IRS
Employer
Identification No.) |
1350
E Arapaho Rd Ste 230, Richardson, Texas 75081
(Address
of principal executive offices)
(760)
295-2408
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock, $0.00001 par
value |
|
NUZE |
|
The Nasdaq Stock Market
LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company |
☐ |
|
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
☐ |
Item
1.01. Entry into a Material Definitive Agreement.
On
October 18, 2023, NuZee, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”)
with Maxim Group LLC, as the sole book-running manager and underwriter (the “Underwriter”), relating to an underwritten public
offering (the “Offering”) of 425,000 shares of common stock, par value $0.00001 per share (the “Common Stock”),
at a price to the public of $3.00 per share of Common Stock (the “Offering Price”). Pursuant to the Underwriting Agreement,
the Company granted the Underwriter a 45-day option to purchase up to 63,750 additional shares of Common Stock at the Offering Price,
less underwriting discounts and commissions.
The
Company expects to receive approximately $1.011 million in net proceeds from the Offering, after deducting underwriting discounts and
commissions and other estimated Offering expenses payable by the Company, assuming no exercise by the Underwriter of its option to purchase
additional shares of Common Stock, or approximately $1.189 million if the Underwriter exercises its option to purchase additional shares
of Common Stock in full. The shares of Common Stock are expected to be delivered to the Underwriter on or about October 20, 2023, subject
to the satisfaction of customary closing conditions.
The
Offering is being made pursuant to a shelf registration statement filed with and declared effective by the Securities and Exchange Commission
(the “SEC”) (Registration No. 333-274818), a base prospectus, dated October
5, 2023, included as part of the registration statement, and a prospectus supplement, dated October 17, 2023.
The
Underwriting Agreement contains representations, warranties and covenants of the Company that are customary for transactions of this
type and customary conditions to closing. Additionally, the Company has agreed to provide
the Underwriter with customary indemnification rights under the Underwriting Agreement. The Company, its executive officers and directors
have also agreed, subject to certain exceptions, not to sell or transfer any shares of its
common stock, warrants or securities convertible into common stock for a period of 60 days following the date of the final prospectus
supplement without the approval of the Underwriter.
The
foregoing summary of the terms of the Underwriting Agreement is subject to, and qualified in its entirety by reference to, the copy of
the Underwriting Agreement that is filed as an exhibit to this Current Report on Form 8-K and are incorporated herein by reference. The
representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and,
as of specific dates, were solely for the benefit of the parties to the Underwriting Agreement, and may be subject to limitations agreed
upon by the contracting parties. Accordingly, the Underwriting Agreement is incorporated herein by reference only to provide investors
with information regarding the terms of the Underwriting Agreement, and not to provide investors with any other factual information regarding
the Company or its business, and should be read in conjunction with the disclosures in the Company’s periodic reports and other
filings with the SEC.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
|
|
NUZEE,
INC. |
|
|
|
Dated: October 20, 2023 |
By: |
/s/ Randell
Weaver |
|
Name: |
Randell Weaver |
|
Title: |
Chief Financial Officer |
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