PLANO, Texas, US – NuZee, Inc. (Nasdaq: NUZE) (“NuZee”), a leading U.S. single serve pour over coffee co-packer, has announced the pricing of an underwritten public offering (the “Offering”) of 2,777,777 units (the “Units”), at a price to the public of $4.50 per Unit, with each Unit consisting of (a) one share of common stock, par value $0.00001 per share (the “Common Stock”), (b) one Series A warrant to purchase one share of Common Stock with an initial exercise price of $4.50 per whole share and (c) one Series B warrant to purchase one-half of a share of Common Stock with an initial exercise price of $5.85 per whole share.
The gross proceeds from the Offering, before deducting underwriting discounts and commissions and estimated Offering expenses payable by NuZee, are expected to be approximately $12.5 million.
In addition, NuZee has granted the underwriters a 45-day option to purchase additional Units, or any combination of the individual securities composing the Units (representing up to 15% of the aggregate number of Units sold in the Offering), on the same price, terms and conditions to cover over-allotments, if any.
The Offering is expected to close on March 23, 2021, subject to the satisfaction of customary closing conditions.
Aegis Capital Corp. is acting as sole book-running manager for the Offering.
The Units described above were offered by NuZee pursuant to a shelf registration statement (including a prospectus) on Form S-3 (No. 333-248531) previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The Units may be offered only by means of a written prospectus and prospectus supplement that form a part of the registration statement.
A preliminary prospectus supplement relating to and describing the terms of the Offering has been filed with the SEC. Electronic copies of the preliminary prospectus supplement and, when available, copies of the final prospectus supplement and accompanying prospectus relating to the Offering may be obtained by visiting the SEC’s website located at http://www.sec.gov or by contacting Aegis Capital Corp., Syndicate Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: syndicate@aegiscap.com.
