PLANO, Texas, USA – NuZee, Inc., 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.
