E-cigarette Maker Juul Raises Over $750 Million In Expanded Funding

Source from:  Financial World 09/02/2019

San Francisco-based e-cigarette maker, Juul Labs Inc, stemmed of a spin-off of Pax Labs back in the 2017s, had raised a lump-sum of $785.2 million in a debt and equity offering, as the e-cigarette maker had been exploring an option to expand its operation globally, a regulatory filing revealed on Friday, the 30th of August 2019.

Nonetheless, the electronic cigarette maker’s latest fundraising was brought into light a day after media reports had revealed that the FTC (Federal Trade Commission) had been conducting an investigation on unfair marketing practices of Juul Labs Inc.

On top of that, Friday’s (August 30th) regulatory filing seemed to be an expansion for the company’s offering released earlier this month, when the company had been quoted saying that it had raised about $325 million, as the company had been seeking to fuel up its balance sheet ahead of a mass-scale expansion across the world, a source familiar with the subject-matter had revealed on conditions of anonymity on Saturday (August 31st) as the source was not authorized to speak about the subject-matter in public.

Nonetheless, despite a flurry of scrutiny over its e-cigarettes in the US, which has been widely popular among the teenagers, the San Francisco-based Juul has already expanded its operation in a hatful of international markets likes of South Korea, Philippines, Indonesia and a many more.  Enditem