Dogness (International) Corporation (NASDAQ: DOGZ), developer and manufacturer of a range of Dogness-branded and private-label pet products, has closed a private placement transaction raising $5 million in gross proceeds from the sale of 2 million class A common stock to various purchasers at $2.50 a share.
On May 9, the company entered into a securities purchase agreement with certain non-U.S. purchasers for the placement. The shares were sold in transactions exempt from registration under the Securities Act of 1933, as amended, in reliance on Regulation S thereunder, the company said in a press statement.
The company further said that each of the purchasers understands that they may not sell or otherwise dispose of the shares without registration under the Securities Act and applicable state securities or “Blue Sky” laws without getting an exemption from such registration.
The statement said Dogness, based in Plano, Texas, was founded in 2003 from the belief that dogs and cats are important, beloved members of the family. Through its ‘smart’ products, hygiene products, health and wellness products, and leash products, Dogness simplifies pet lifestyles and enhances the relationship between pets and their caregivers, it said.
The company said it 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.
Source: PR Newswire
Also Read:
Choosing a pet: A guide to finding the right companion for your home
Another U.S. state outlaws greyhound racing, West Virginia the only holdout
New survey reveals old truth: Dogs still considered a human’s best friend
