Dogness (International) Corporation Announces Strategic Investment in Petcare Internet of Things Platform
Dogness International Corporation (NASDAQ: DOGZ) has announced a strategic investment to acquire a 19.5% equity stake in Dogness Intelligent Technology Co., Ltd. (DITC). The transaction will be executed through a share acquisition agreement, with payment made in Dogness Class A common shares and warrants.
DITC, established in 2018, specializes in developing Internet of Things (IoT) and app platforms for the pet industry. Their technology focuses on creating intelligent petcare devices and applications that enable pet activity tracking, health data collection, protection, feeding, and monitoring capabilities for pet owners.
Dogness International Corporation (NASDAQ: DOGZ) ha annunciato un investimento strategico per acquisire una quota azionaria del 19,5% in Dogness Intelligent Technology Co., Ltd. (DITC). L'operazione sarà effettuata tramite un accordo di acquisizione azionaria, con pagamento in azioni ordinarie Classe A di Dogness e warrant.
Fondata nel 2018, DITC è specializzata nello sviluppo di piattaforme Internet of Things (IoT) e app per il settore degli animali domestici. La loro tecnologia si concentra sulla creazione di dispositivi intelligenti per la cura degli animali e applicazioni che consentono il monitoraggio dell'attività, la raccolta di dati sulla salute, la protezione, l'alimentazione e il controllo da parte dei proprietari.
Dogness International Corporation (NASDAQ: DOGZ) ha anunciado una inversión estratégica para adquirir una participación accionaria del 19,5% en Dogness Intelligent Technology Co., Ltd. (DITC). La transacción se llevará a cabo mediante un acuerdo de adquisición de acciones, con el pago realizado en acciones ordinarias Clase A de Dogness y warrants.
DITC, fundada en 2018, se especializa en el desarrollo de plataformas de Internet de las Cosas (IoT) y aplicaciones para la industria de mascotas. Su tecnología se enfoca en crear dispositivos inteligentes para el cuidado de mascotas y aplicaciones que permiten el seguimiento de la actividad, la recopilación de datos de salud, la protección, la alimentación y la supervisión por parte de los dueños.
Dogness International Corporation (NASDAQ: DOGZ)는 Dogness Intelligent Technology Co., Ltd. (DITC)의 19.5% 지분을 전략적으로 인수한다고 발표했습니다. 이번 거래는 주식 인수 계약을 통해 진행되며, 대금은 Dogness 클래스 A 보통주와 워런트로 지급됩니다.
2018년에 설립된 DITC는 반려동물 산업을 위한 사물인터넷(IoT) 및 앱 플랫폼 개발을 전문으로 합니다. 이들의 기술은 반려동물 활동 추적, 건강 데이터 수집, 보호, 급식 및 모니터링 기능을 제공하는 지능형 반려동물 관리 기기와 애플리케이션을 만드는 데 중점을 두고 있습니다.
Dogness International Corporation (NASDAQ : DOGZ) a annoncé un investissement stratégique visant à acquérir une participation de 19,5 % dans Dogness Intelligent Technology Co., Ltd. (DITC). La transaction sera réalisée par le biais d’un accord d’acquisition d’actions, avec un paiement en actions ordinaires de classe A de Dogness et en bons de souscription.
Créée en 2018, DITC se spécialise dans le développement de plateformes Internet des Objets (IoT) et d’applications pour l’industrie des animaux de compagnie. Leur technologie vise à concevoir des dispositifs et applications intelligents pour le soin des animaux, permettant le suivi des activités, la collecte de données de santé, la protection, l’alimentation et la surveillance par les propriétaires.
Dogness International Corporation (NASDAQ: DOGZ) hat eine strategische Investition angekündigt, um einen 19,5%igen Anteil an Dogness Intelligent Technology Co., Ltd. (DITC) zu erwerben. Die Transaktion wird durch einen Aktienerwerbsvertrag abgewickelt, wobei die Zahlung in Dogness Class A Stammaktien und Warrants erfolgt.
DITC, gegründet im Jahr 2018, spezialisiert sich auf die Entwicklung von Internet of Things (IoT) und App-Plattformen für die Heimtierbranche. Ihre Technologie konzentriert sich auf die Schaffung intelligenter Geräte und Anwendungen für die Tierpflege, die das Verfolgen von Aktivitäten, das Sammeln von Gesundheitsdaten, den Schutz, die Fütterung und die Überwachung für Tierhalter ermöglichen.
- Strategic expansion into pet tech and IoT market through 19.5% stake acquisition
- Payment structure using shares and warrants preserves cash resources
- Access to DITC's innovative pet monitoring and health tracking technology
- Potential shareholder dilution due to payment structure using Class A shares and warrants
- Minority stake (19.5%) limits control over DITC's operations and decisions
DONGGUAN, China and PLANO,
Established in 2018, DITC focuses on the research and development of Internet of Things (IoT) and app platforms in the pet industry. DITC is dedicated to creating user-centered intelligent petcare devices and applications that help track pet activities, collect health data, protect, feed, follow, and monitor pets, even if owners are not with their pets.
Mr. Silong Chen, Chief Executive Officer of Dogness, stated, "We are pleased to invest and acquire a strategic stake in DITC, an emerging player in petcare technology. With the growing focus on pet health and wellness, and advancements in IoT, AI, and data analytics driving demand for pet tech products that monitor activity and track vitals, DITC's innovative approach and commitment to developing a user-centered intelligent pet ecosystem align well with our strategic goals. We are excited to work with DITC and explore new opportunities for growth in the expanding petcare market."
For further information regarding this transaction, please see the Form 6-K to be filed with the SEC.
About Dogness
Dogness (International) Corporation was founded in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance 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
For more information please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
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SOURCE Dogness (International) Corporation
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