TDH Holdings, Inc. (PETZ) stock soared 1.66% in the current market trading session at the price of $0.75 despite no fundamental reason. The last published news was its financial results for the first half ended on 30th June 2021. PETZ designs and distributes a vast range of pet food products under various brands sold in Asia, China, and Europe.
PETZ Announced First Half 2021 Earnings Report
On 10th December 2021, PETZ published its earnings report for the first six months ended 30th June 2021 and presented corporate updates. Revenues totaled $0.13M for the first half of 2021. It represents a drop of 52.46%, or $0.15M, from $0.28M for the same period of 2020.
PETZ reported a net loss of $0.94M, or $0.02 per share, for the first half of 2021. Net loss was $0.60M, or $0.01 per share, for the first half of last year. For the first six months of 2021, the operating loss was $1.17M. The operating loss totaled $0.97M for the same six months of 2020.
PETZ Reported 9M Registered Direct Placement
Previously on 3rd November 2021, PETZ reported entering into a securities purchase agreement with investors for a direct offering. The company has raised gross proceeds of $9.9M by selling 15,000,000 ordinary shares. The shares and warrants had offered at a public price of $0.64 per share and $0.01 per warrant, respectively. TDH Holdings intends to use the net proceeds for its investments in the business and strategic acquisitions.
PETZ Closed $9.1M Registered Direct Offering
On 30th September 2021, PETZ reported the closure of its earlier announced direct offering with the investors. The company has generated roughly $9.1M in gross proceeds by selling its 10,000,000 ordinary shares. The shares and warrants had offered at a public price of $0.89 per share and $0.01 per warrant to purchase 20,000,000 shares. The offered warrants were exercisable at $2.06 per share. The company intends to use the net proceeds from the offering for its strategic acquisitions and business investments.