Coffee Packager Nuzee Sets Terms For $5 Million Nasdaq Uplisting

From: nasdaq.com

NuZee, which packages and sells single-serve coffee products, announced terms for its IPO on Thursday. In its latest filing, the company also disclosed financial results for the six months ended March 31, 2020.

The Plano, TX-based company plans to raise $5 million by offering 555,555 shares at a price of $9, the last close of its shares listed on the OTCQB (NUZE). At the assumed offer price, NuZee would command a fully diluted market value of $133 million.

NuZee was founded in 2011 and booked $2 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol NUZE. The Benchmark Company is the sole bookrunner on the deal.

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