Coffee Service

Nuzee announces public offering

May 15, 2020

NuZee Inc., a single-serve pour-over coffee producer and co-packer, has announced a public offering of shares of its common stock on the Nasdaq Capital Market under the symbol, NUZE, according to an SEC filing. The common stock is currently listed on the OTCQB Marketplace under this symbol.

The company has assumed a public offering of $9 per share, according to the filing. The actual public offering price per share will be determined by the underwriters and the company when pricing can be at a discount to the current market price.

The company is offering 555,555 shares of common stock with a par value of $0.00001 per share, according to the filing.

The company estimates that the net proceeds will be approximately $4 million, or approximately $4.7 million if the underwriters exercise their option in full at a public offering price of $9 per share, which was the last reported sale price of common stock on March 13, 2020. The company plans to use the net proceeds for working capital and general purposes.