NuZee, which packages and sells single-serve coffee products, increased the proposed share offering for its upcoming IPO on Friday.
The Plano, TX-based company now plans to raise $6 million by offering 0.7 million shares at $9, the May 20th close of its shares on the OTCQB (NUZE). The company had previously filed to offer 0.6 million shares at the same price. At $9, NuZee will raise 26% more in proceeds than previously anticipated to command a fully diluted market value of $135 million.
NuZee was founded in 2011 and booked $2 million in revenue 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
