TDH Holdings Inc. (NASDAQ: PETZ) stock surged by 32.40% at the last close however the PETZ stock price skyrocketed by 195.78% in the after-hours trading session. TDH Holdings, Inc. was founded in April 2002 and is a producer, manufacturer, and distributor of a range of pet food products supplied in China, Asia, and Europe under numerous brands.
PETZ stock’ Current Update
TDH Holdings, Inc. reported that it has engaged in a securities purchase contract for a registered direct offering with a number of investors. Prior to subtracting placement agent fees and other basic offering fees, they raised nearly $9.9 million in total 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. The warrants have a strike price of $1.47 per share.
The money raised from this transaction will be used by the company to make strategic partnerships and investments in adjacent businesses. Furthermore, at this time, the Company has no present agreements, understandings, or commitments for any specific material acquisition. In conjunction with the offering, Boustead Securities, LLC served as the sole placement agent.
The Business’s effective shelf registration statement and base prospectus included therein were used to sell these securities through a prospectus supplement. The Securities and Exchange Commission received a shelf registration document for these securities and ruled it effective. The SEC will receive a prospectus supplement pertaining to the offering.
Previously,
TDH Holdings, Inc. confirmed the delay of its Annual General Meeting of Shareholders till Tuesday, December 28, 2021, at 9:00 a.m. Beijing time (Monday, December 27, 2021, at 9:00 p.m. EST), to be hosted at Room 3303, 9 East 3rd Ring Middle Road, Chaoyang District, Beijing, People’s Republic of China. At the AGM, shareholders of record as of the record date, which is September 15, 2021, will be able to vote.
