PLANO, Texas, Aug. 5, 2022 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE), a leading U.S. producer and co-packer of single serve coffee formats, today announced it has commenced a firm commitment underwritten public offering of its common stock. NuZee intends to grant the underwriters a 45-day option to purchase up to an additional fifteen percent of the number of shares of its common stock offered in the public offering to cover over-allotments, if any. The public offering is subject to market conditions, and there can be no assurance as to whether or when the public offering may be completed, or the actual size or terms of the public offering.
NuZee intends to use the net proceeds from the offering for working capital and general corporate purposes and to acquire complementary businesses, acquire or license products or technologies that are complementary to its own, although NuZee has no current plans, commitments or agreements with respect to any such use of proceeds for acquisitions or licenses as of the date of this press release.
Maxim Group LLC is acting as the sole book-running manager for the public offering.
The public offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (SEC) on September 1, 2020 and declared effective on October 2, 2020. The securities will be offered only by means of a preliminary prospectus supplement and accompanying prospectus forming a part of the effective registration statement. A preliminary prospectus supplement describing the terms of the public offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering may be obtained, when available, by contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, or by telephone at (212) 895-3745.
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 these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. NuZee cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect NuZee's current expectations and NuZee does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other NuZee statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond NuZee's control, which could cause actual results to differ materially from the forward-looking statements. Statements related to, among other things, the consummation of the offering of common stock and potential changes in market conditions constitute forward-looking statements. These risks and uncertainties, many of which are beyond our control, include: NuZee's plan to obtain funding for its operations, including funding necessary to develop, manufacture and commercialize its products; the impact to NuZee's business from COVID 19, including supply chain interruptions; general market acceptance of and demand for NuZee's products; NuZee's reliance on third-party roasters to roast and blend coffee beans necessary to produce its products and provide its co-packing services; NuZee's ability to successfully achieve the anticipated results of strategic transactions; the fact that certain of NuZee's single serve coffee products are expected to be manufactured, processed and packaged for NuZee by its new partner on a purchase order basis pursuant to the agreement between the parties; the fact that sales are completed on a purchase order basis without any written agreement between NuZee and its customers; and NuZee's commercialization, marketing and manufacturing capabilities and strategy. For a description of additional factors that may cause NuZee's actual results, performance or expectations to differ from any forward looking statements, please review the information set forth in the 'Risk Factors' and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the NuZee's public reports and NuZee's other filings made with the SEC.
NuZee, Inc., (NASDAQ: NUZE), is a leading co-packing company for single serve coffee formats that partners with companies to help them develop within the single serve and private label coffee category.
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