Juul, the inventor of the e-cigarette, will explore financing options

0

Juul, the inventor of the e-cigarette, will explore financing options

  • Juul Labs said it’s in the early stages of exploring several options.
  • The company is facing legal action.
  • Ban on the sale of e-cigarettes by US regulators.
  • Juul bankers are probing investors for a possible $400 million.

Juul Labs Inc said Friday it was in the early stages of investigating a few choices, including support for other options.

As the organization handles claims and a plausible restriction on sales of its e-cigarettes by US health regulators.

The News previously revealed, citing sources, that Juul’s financiers at Centerview Partners are probing lenders for a possible $400 million senior term loan maturing in August 2023.

Read also

Enfamil Producer Reckitt Ships Formula to US from Singapore

65 tonnes of infant formula were flown from Chicago to Singapore. Reckit…

The returns would help renegotiate a current term loan, which has a remarkable around $394 million and is expanding to a similar date, the report added.

A representative for Juul told the known website that the organization is reviewing options to protect its business and to respond to “the effect of the currently remaining request from the FDA so that we can continue to offer our items to adult customers. who have or are hoping to move away from conventional cigarettes.

Centerview Partners declined to comment when contacted by the known website.

News in its report indicates that Juul was also considering a new $150 million second lien term loan, which could have development in August 2024, to help settle part of the first lien term advance and to increase liquidity, according to the report.

Proposals in support of either advance are expected on July 21, the report says.

Last month, the Food and Drug Administration (FDA) hampered transactions of Juul e-cigarettes and said the apps “needed adequate evidence” to show that offering the items would be suitable for general well-being. .

Either way, Juul sued the organization’s structure and recently the FDA paused its boycott saying it would do an additional audit of the organization’s advertising app.

Read also

Amazon.com’s Ring Provided Information to Police Without User Consent

Amazon.com’s Ring Doorbell gave the footage to law enforcement. Without the user…

Share.

Comments are closed.