TDH Holdings, Inc. (PETZ) shares are surging more than 39 percent on Thursday morning after the pet food company announced that it raised $9.9 million through a registered direct offering of 15 million common shares at a price of $0.64 and warrants at $0.01. The warrants are exercisable at $1.47 per share.

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RTTNews | Nov 4, 2021 10:06AM EDT

10:06 Thursday, November 4, 2021 (RTTNews.com) - TDH Holdings, Inc. (PETZ) shares are surging more than 39 percent on Thursday morning after the pet food company announced that it raised $9.9 million through a registered direct offering of 15 million common shares at a price of $0.64 and warrants at $0.01. The warrants are exercisable at $1.47 per share.

The Company plans to use the net proceeds on strategic acquisitions and investments in the complementary business.

Currently, shares are at $3.29, up 39 percent from the previous close of $2.37 on a volume of 36,658,072. For the 52-week period, the shares have traded in a range of $1.12 - $14.52 on average volume of 428,689.

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