Dogness Announces Entry into US$6.0 Million Private Placement

Rhea-AI Summary

Dogness (NASDAQ: DOGZ), a pet products manufacturer, has announced a private placement transaction worth US$6.0 million. The company will sell 1,200,000 Class A common shares at US$5.00 per share to non-U.S. purchasers. The transaction is exempt from Securities Act registration requirements under Regulation S. The shares being sold are subject to restrictions on resale without proper registration or exemption. The closing of the private placement remains subject to customary conditions.

Positive

• Secured US$6.0 million in additional capital through private placement
• Strong share price of US$5.00 per share for the offering

Negative

• Potential dilution for existing shareholders from issuance of 1,200,000 new shares
• Restricted shares with limited trading ability for purchasers

DONGGUAN, China and PLANO, Texas, May 8, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that it entered into a private placement transaction (the "Private Placement") for US$6.0 million in gross proceeds, from the sale of 1,200,000 of the Company's Class A common shares (the "Shares") for US$5.00 per Share.

The Shares are being sold to certain non-U.S. purchasers (the "Purchasers") in a transaction exempt from registration under the Securities Act of 1933, as amended, in reliance on Regulation S thereunder. Each of the Purchasers understands that the Shares have not been registered under the Securities Act and such Purchasers may not sell or otherwise dispose of the Shares without registration under the Securities Act and under applicable state securities or "Blue Sky" laws, or pursuant to an exemption therefrom. Closing of the Private Placement is subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dogness

Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness' technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company 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. For more information, please visit: ir.dogness.com.

Forward Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

For investor and media inquiries, please contact:

Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)

View original content:https://www.prnewswire.com/news-releases/dogness-announces-entry-into-us6-0-million-private-placement-302450265.html

SOURCE Dogness (International) Corporation

FAQ

How much money is Dogness (DOGZ) raising in its private placement?

Dogness is raising US$6.0 million in gross proceeds through the private placement of 1,200,000 Class A common shares at US$5.00 per share.

What is the price per share for DOGZ's private placement in May 2025?

The private placement price is US$5.00 per Class A common share.

Who are the buyers in Dogness's private placement?

The shares are being sold to non-U.S. purchasers in a transaction exempt from registration under Regulation S of the Securities Act.

How many new shares will Dogness (DOGZ) issue in the private placement?

Dogness will issue 1,200,000 Class A common shares in the private placement.

What are the trading restrictions on DOGZ's private placement shares?

The shares cannot be sold without registration under the Securities Act and applicable state securities laws, or pursuant to an exemption therefrom.