Dogness drops on pricing direct offering at discount

Dogness International

22/02/2022 17:23

** U.S.-listed shares of Chinese pet products maker  DOGZ.O 
down 37% at $2.69 - biggest pct loser among Nasdaq listed stocks
    ** Co priced direct offering of about 1.96 mln shares of 
Class A common stock to certain institutional investors at
$2.88/share
    ** Offering is at 32.5% discount to stock's Friday closing
price of $4.27
    ** Gross proceeds from offering to be about $5.66 mln; net
proceeds to be used for general corporate and working capital
purposes
    ** Offering expected to be on or about Feb. 24
    ** YTD, stock down ~68%

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))