TDH Holdings (PETZ) Stock: Why The Price Surged Today

By Amit Chowdhry ● Nov 3, 2021
  • The stock price of TDH Holdings, Inc. (NASDAQ: PETZ) increased 33.9% today. This is why it happened.

The stock price of TDH Holdings, Inc. (NASDAQ: PETZ) – a PRC-based company that specializes in the development, manufacturing, and sales of pet food products – increased 33.9% today. Investors are responding positively to the company announcing that it entered into a securities purchase agreement with certain investors for a registered direct offering and closed the offering, raising approximately $9.9 million in gross proceeds from the sale of 15 million common shares at a price of $0.64 per share and warrants at a price of $0.01 per warrant to buy an aggregate of 30,000,000 common shares, before deducting placement agent fees and other standard offering expenses. These warrants are exercisable at $1.47 per share.

The company is planning to use the net proceeds from this offering on strategic acquisitions and investments in the complementary business. But the company has no current understandings, agreements, or commitments for any specific material acquisition at this time. Boustead Securities, LLC acted as the exclusive placement agent in connection with the offering.

The price of TDH Holdings also jumped significantly after hours as well. The after-hours price went up more than 60% at the last check.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.