Dogness (International), a Chinese supplier of pet leashes, collars and other products, filed on Wednesday with the SEC to raise $40-$50 million in an initial public offering. The offering is being made on a min-max "best-efforts" basis and will therefore be excluded from our IPO stats.
The Guangdong, China-based company plans to offer 8-10 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Dogness (International) would command a fully diluted market value of $120 million.
Dogness (International) was founded in 2003 and booked $21 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol DOGZ. Spartan Securities is the sole bookrunner on the deal. Deal timing has not been determined.
