Coffee Service

NuZee raises $6.1M from public offering

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July 22, 2020

Nuzee Inc., a provider of a single-serve pour-over coffee, has issued an additional 105,000 shares of common stock as a result of its previously announced public offering, according to a press release. The option was granted in connection with the underwritten public offering of 700,000 shares of NuZee common stock at a public offering price of $9.00 per share, which closed on June 23, 2020.

The full exercise of the over-allotment option brings the total net proceeds to NuZee to approximately $6.1 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by NuZee. NuZee intends to use the net proceeds from the offering for working capital and general corporate purposes.