Dogness Raises $12M Via Equity Offering

• Dogness Corp (NASDAQ:DOGZ) has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of about $12 million of Class A common shares and warrants at $3.30 per unit.
• The units will consist of one common share and 0.6 warrants to purchase one common share.
• The company will issue 3.6 million shares and warrants to purchase an aggregate of 2.2 million shares to the investors.
• The warrants are initially exercisable at $4.20 per share and have a term of 36 months.
• Dogness intends to use the proceeds for general corporate and working capital purposes. The placement is expected to close on June 3, 2022.
• Price Action: DOGZ shares are trading lower by 23.5% at $3.06 on the last check Wednesday.