Coffee Service

Single-serve coffee producer NuZee prices its IPO

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June 19, 2020

NuZee Inc., a single-serve pour-over coffee producer and co-packer, announced the pricing of an underwritten public offering of 700,000 shares of its common stock at a price to the public of $9 per share, according to a press release. The net proceeds from the offering, after deducting underwriting discounts and commissions and estimated expenses payable by NuZee, are expected to be approximately $5.3 million.

In addition, NuZee has granted the underwriters a 45-day option to purchase up to 105,000 additional shares of NuZee's common stock at the same initial price to the public less underwriting discounts and commissions, and on the same terms and conditions, to cover over-allotments, if any.

NuZee's common stock is expected to begin trading on the NASDAQ Capital Market under the symbol "NUZE." The offering is expected to close on June 23, 2020, subject to the satisfaction of customary closing conditions.

The Benchmark Company, Llc. is acting as sole book-running manager for the offering.