QINGDAO, China, Nov. 3,
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 entered into a securities purchase agreement with certain
investors for a registered direct offering and closed the
offering, raising approximately $9.9
million in gross proceeds from the sale of 15,000,000 common
shares at a price of $0.64 per share
and warrants at a price of $0.01 per
warrant to purchase an aggregate of 30,000,000 common shares,
before deducting placement agent fees and other standard offering
expenses. The warrants are exercisable at $1.47 per share.
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. Boustead Securities, LLC. acted as the exclusive
placement agent in connection with the offering.
These securities were sold 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 was 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 filed with the SEC
at www.sec.gov.
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. PETZ 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.