QINGDAO, China, Sept. 30, 2021 /PRNewswire/ -- TDH Holdings, Inc.
(NASDAQ: PETZ) ("TDH" or the "Company"), a PRC-based company that
specializes in the development, manufacturing and sales of pet food
products in China and beyond,
today announced that it has entered into a securities purchase
agreement with certain investors for a registered direct placement
of $9.1 million of common shares and
accompanying warrants at a price of $0.89 per share and $0.02 per warrant. The Company will issue an
aggregate of 10,000,000 common shares and warrants to purchase an
aggregate of 20,000,000 common shares to the investors. The
warrants are initially exercisable at $2.16 per share. The aggregate gross proceeds
from the sale of the securities, before deducting fees payable to
the Placement Agent and other estimated offering expenses payable
by the Company will be approximately $9.1
million.
The Company plans to use the net proceeds from this offering on
strategic acquisitions and investments in complementary
business. However, the Company has no current understandings,
agreements or commitments for any specific material acquisition at
this time. The completion of the placement is expected to occur on
or about September 30, 2021, subject
to the satisfaction of customary closing conditions. Boustead
Securities, LLC acted as the exclusive placement agent in
connection with the offering.
These securities are being offered through a prospectus
supplement pursuant to the Company's effective shelf registration
statement and base prospectus contained therein. A shelf
registration statement relating to these securities has been filed
with and declared effective by the Securities and Exchange
Commission (the "SEC"). A prospectus supplement related to the
offering will be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities, in any state or other 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 other jurisdiction.
For further information regarding this transaction, please see
the Form 6-K to be filed with the SEC.
About TDH Holdings, Inc.
Founded in April 2002, TDH
Holdings, Inc. (the "Company") is a developer, manufacturer and
distributer of a variety of pet food products under multiple brands
that are sold in the China,
Asia and Europe. More information about the Company can
be found at www.tdhpet.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 more information, please contact:
Feng Zhang,
CFO
TDH Holdings, Inc.
Email: 770826183@qq.com
Phone: +86 18311021983
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SOURCE TDH Holdings, Inc.