NuZee Secures $242K Private Placement
Ticker: CIMG · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1527613
| Field | Detail |
|---|---|
| Company | Nuzee, INC. (CIMG) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: private-placement, capital-raise, securities
TL;DR
NuZee just raised $242K via private placement, selling shares and warrants at $0.22 each.
AI Summary
NuZee, Inc. announced on June 25, 2024, that it has entered into a securities purchase agreement with an accredited investor for a private placement. The company will issue approximately 1.1 million shares of its common stock and warrants to purchase up to 1.1 million shares of common stock at an effective purchase price of $0.22 per share and accompanying warrant. The gross proceeds are expected to be approximately $242,000.
Why It Matters
This private placement provides NuZee with crucial capital, which could be used for operational expenses or strategic initiatives, potentially impacting its ability to continue its business operations.
Risk Assessment
Risk Level: medium — The company is raising capital through a private placement, which can indicate financial needs and dilutive effects for existing shareholders.
Key Numbers
- $242,000 — Gross Proceeds (Capital raised from the private placement)
- $0.22 — Effective Purchase Price (Price per share and accompanying warrant)
- 1.1 million shares — Shares Issued (Number of common shares to be issued)
Key Players & Entities
- NuZee, Inc. (company) — Registrant
- June 25, 2024 (date) — Date of earliest event reported
- accredited investor (company) — Purchaser in private placement
- 1.1 million shares (dollar_amount) — Number of shares to be issued
- $0.22 (dollar_amount) — Effective purchase price per share and warrant
- $242,000 (dollar_amount) — Expected gross proceeds
FAQ
What is the purpose of the private placement for NuZee, Inc.?
The filing does not explicitly state the purpose of the private placement, but it is a common method for companies to raise capital for operations, expansion, or other strategic initiatives.
Who is the accredited investor participating in the private placement?
The filing refers to 'an accredited investor' but does not disclose the specific name of the entity or individual involved in the purchase agreement.
What are the terms of the warrants issued in the private placement?
The filing states that warrants will be issued to purchase up to 1.1 million shares of common stock, but the specific exercise price, expiration date, and other terms of the warrants are not detailed in this 8-K filing.
How many shares of common stock will NuZee, Inc. issue in total?
NuZee, Inc. will issue approximately 1.1 million shares of its common stock as part of the private placement.
When was the securities purchase agreement entered into?
The securities purchase agreement was entered into on June 25, 2024, which is the date of the earliest event reported in this filing.
Filing Stats: 506 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-06-27 16:10:16
Key Financial Figures
- $0.00001 — nge on which registered Common Stock, $0.00001 par value NUZE The Nasdaq Stock Mar
Filing Documents
- form8-k.htm (8-K) — 37KB
- 0001493152-24-025432.txt ( ) — 204KB
- nuze-20240625.xsd (EX-101.SCH) — 3KB
- nuze-20240625_lab.xml (EX-101.LAB) — 33KB
- nuze-20240625_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 25, 2024 NUZEE, INC. (Exact name of registrant as specified in its charter) Nevada 001-39338 38-3849791 (State or other jurisdiction of incorporation or organization (Commission File No.) (IRS Employer Identification No.) 2865 Scott St. Suite 107 , Vista , California 92081 (Address of principal executive offices) (760) 295-2408 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00001 par value NUZE The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 8.01 Other Events. On June 25, 2024, the board of directors (the "Board") resolved that the Audit Committee of the Board of Nuzee, Inc. (the "Company") shall comprise Changzheng Ye, Jian Liu and Yanli Hou, with Changzheng Ye being the chairperson of the Audit Committee. Yanli Hou is qualified as an "audit committee financial expert" as defined in the rules of the Securities and Exchange Commission ("SEC") and has the requisite financial sophistication as required under the listing standards of Nasdaq. The Compensation Committee of the Board of the Company shall comprise Jian Liu, Changzheng Ye and Yanli Hou, with Jian Liu being the chairperson of the Compensation Committee. The Nominating and Corporate Governance Committee of the Board of the Company shall comprise Jian Liu, Changzheng Ye and Yanli Hou, with Jian Liu being the chairperson of the Nominating and Corporate Governance Committee. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. NUZEE, INC. Dated: June 27, 2024 By: /s/ Randell Weaver Name: Randell Weaver Title: Co-Chief Executive Officer and Chief Financial Officer By: /s/ Jianshuang Wang Name: Jianshuang Wang Title: Co-Chief Executive Officer and and Director