Coffee Service

NuZee commences public offering of common stock

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August 8, 2022

NuZee Inc., a producer and co-packer of single-serve coffee formats, has commenced a public offering of 4.2 million shares of its common stock at a public offering price of 82 cents per share, according to a press release.

The public offering is pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission declared effective on Oct. 2, 2020, as previously reported.

NuZee intends to grant the underwriters a 45-day option to purchase up to an additional 15% 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.

The company 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 this announcement.

Maxim Group LLC is acting as the sole book-running manager for the public offering.