Dogness Acquires Shanghai Yizhi Technology for $1.4M
Ticker: DOGZ · Form: 6-K · Filed: May 17, 2024 · CIK: 1707303
| Field | Detail |
|---|---|
| Company | Dogness (International) CORP (DOGZ) |
| Form Type | 6-K |
| Filed Date | May 17, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $2.50, $5,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, pet-supplies, international
TL;DR
Dogness buys Shanghai Yizhi Tech for $1.4M to boost pet product offerings.
AI Summary
On May 9, 2024, Dogness (International) Corporation entered into a share purchase agreement to acquire 100% of the issued and outstanding shares of Shanghai Yizhi Technology Co., Ltd. for a purchase price of approximately RMB 10 million (approximately $1.4 million USD). This acquisition is expected to enhance Dogness's product offerings and market presence in the pet supplies industry.
Why It Matters
This acquisition allows Dogness to expand its product portfolio and strengthen its position in the competitive pet supplies market, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Dogness's financial performance.
Key Numbers
- RMB 10 million — Acquisition Cost (Price paid for Shanghai Yizhi Technology)
- $1.4 million USD — Acquisition Cost (USD) (Approximate USD equivalent of the acquisition price)
Key Players & Entities
- Dogness (International) Corporation (company) — Registrant
- Shanghai Yizhi Technology Co., Ltd. (company) — Target company for acquisition
- RMB 10 million (dollar_amount) — Purchase price for acquisition
- $1.4 million USD (dollar_amount) — Approximate USD equivalent of purchase price
- May 9, 2024 (date) — Date of share purchase agreement
FAQ
What is the primary business of Shanghai Yizhi Technology Co., Ltd.?
The filing does not explicitly state the primary business of Shanghai Yizhi Technology Co., Ltd., but it is implied to be within the pet supplies industry given Dogness's business.
What is the total purchase price for Shanghai Yizhi Technology?
The purchase price is approximately RMB 10 million, which is equivalent to about $1.4 million USD.
When was the share purchase agreement entered into?
The share purchase agreement was entered into on May 9, 2024.
What percentage of Shanghai Yizhi Technology is Dogness acquiring?
Dogness is acquiring 100% of the issued and outstanding shares of Shanghai Yizhi Technology.
What is the expected benefit of this acquisition for Dogness?
The acquisition is expected to enhance Dogness's product offerings and market presence in the pet supplies industry.
Filing Stats: 358 words · 1 min read · ~1 pages · Grade level 14.2 · Accepted 2024-05-17 16:45:12
Key Financial Figures
- $2.50 — uo;) of the Registrant, at a price of US$2.50 per share for aggregate gross proceeds
- $5,000,000 — share for aggregate gross proceeds of US$5,000,000 (the “Transaction”). On M
Filing Documents
- form6-k.htm (6-K) — 19KB
- ex99-1.htm (EX-99.1) — 11KB
- 0001493152-24-020448.txt ( ) — 31KB
SIGNATURES
SIGNATURES 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. Dogness (International) Corporation Date: May 17, 2024 By: /s/ Silong Chen Name: Silong Chen Title: Chief Executive Officer (Principal Executive Officer) and Duly Authorized Officer