Dogness Shares Plummet After Pricing Equity Offering At Steep Discount

• Dogness Corp (NASDAQ:DOGZ) has entered into a securities purchase agreement with institutional investors for a registered direct offering of 1.96 million common shares at $2.88 per share.
• The offering price represents a 32.6% discount to the company’s close on February 18, 2022.
• The aggregate gross proceeds from the sale total $5.66 million.
• The company intends to use the proceeds for general corporate and working capital purposes. 
• The completion of the placement is expected to occur on or about February 24, 2022.
• Price Action: DOGZ shares are trading lower by 40.2% at $2.56 on the last check Tuesday.