Stock Market News

E-cigarette maker Juul to explore options including financing

2022.07.16 02:20

E-cigarette maker Juul to explore options including financing
E-cigarette maker Juul to explore options including financing

Budrigannews.com -Juul Labs Inc said on Friday it is in the early stages of exploring several options including financing alternatives, as the company deals with lawsuits and a probable ban on sales of its e-cigarettes by U.S. health regulators.

Bloomberg News earlier reported, citing sources, that Juul’s bankers at Centerview Partners are sounding out investors for a possible $400 million first-lien term loan due August 2023. (https://bloom.bg/3O9qStl)

The proceeds would help refinance an existing term loan, which has around $394 million outstanding and matures on the same date, the report added.

A spokesperson for Juul told Reuters that the company is looking at options to protect its business and to address the “impact of the FDA’s now stayed order so we can continue offering our products to adult consumers who have or are looking to transition away from traditional cigarettes.”

Centerview Partners declined to comment when contacted by Reuters.

Bloomberg News in its report said Juul was also considering a new $150 million second-lien term loan, which may have an August 2024 maturity, to help pay down some of the first-lien term loan and to increase liquidity, the report said.

Financing proposals for either loan are due July 21, according to the report.

Last month, the Food and Drug Administration (FDA) blocked sales of Juul e-cigarettes and said the applications “lacked sufficient evidence” to show that sale of the products would be appropriate for public health.

However, Juul appealed the agency’s order and earlier this month FDA put on hold its ban saying it would do an additional review of the company’s marketing application.

 

 

E-cigarette maker Juul to explore options including financing

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,843.48 0.41%
ethereum
Ethereum (ETH) $ 3,354.05 0.84%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 260.18 0.09%
bnb
BNB (BNB) $ 653.50 3.71%
xrp
XRP (XRP) $ 1.55 12.16%
dogecoin
Dogecoin (DOGE) $ 0.466166 18.27%
cardano
Cardano (ADA) $ 1.10 24.80%
usd-coin
USDC (USDC) $ 1.00 0.07%
staked-ether
Lido Staked Ether (STETH) $ 3,354.23 0.70%
tron
TRON (TRX) $ 0.209606 5.21%
avalanche-2
Avalanche (AVAX) $ 43.68 20.73%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 8.54%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,972.16 1.06%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,666.44 0.24%
the-open-network
Toncoin (TON) $ 5.60 1.21%
stellar
Stellar (XLM) $ 0.436643 55.64%
polkadot
Polkadot (DOT) $ 7.59 22.64%
bitcoin-cash
Bitcoin Cash (BCH) $ 538.59 8.79%
chainlink
Chainlink (LINK) $ 16.95 10.63%
sui
Sui (SUI) $ 3.61 0.96%
weth
WETH (WETH) $ 3,353.19 0.86%
pepe
Pepe (PEPE) $ 0.000021 0.48%
leo-token
LEO Token (LEO) $ 8.56 2.51%
litecoin
Litecoin (LTC) $ 102.08 12.99%
near
NEAR Protocol (NEAR) $ 6.29 9.86%
aptos
Aptos (APT) $ 12.66 5.37%
uniswap
Uniswap (UNI) $ 10.41 11.45%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,531.39 0.98%
hedera-hashgraph
Hedera (HBAR) $ 0.150722 13.54%
internet-computer
Internet Computer (ICP) $ 11.06 15.09%
crypto-com-chain
Cronos (CRO) $ 0.192521 0.78%
usds
USDS (USDS) $ 0.999013 0.27%
ethereum-classic
Ethereum Classic (ETC) $ 29.57 5.87%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.538916 16.01%
render-token
Render (RENDER) $ 7.91 7.29%
kaspa
Kaspa (KAS) $ 0.156673 3.03%
bittensor
Bittensor (TAO) $ 524.84 4.80%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.11%
bonk
Bonk (BONK) $ 0.00005 3.08%
whitebit
WhiteBIT Coin (WBT) $ 24.63 0.97%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.33 4.02%
vechain
VeChain (VET) $ 0.04317 31.53%
mantra-dao
MANTRA (OM) $ 3.77 1.99%
dai
Dai (DAI) $ 1.00 0.06%
dogwifcoin
dogwifhat (WIF) $ 3.40 2.81%
arbitrum
Arbitrum (ARB) $ 0.827036 4.62%
cosmos
Cosmos Hub (ATOM) $ 7.91 19.91%
blockstack
Stacks (STX) $ 2.05 5.39%
filecoin
Filecoin (FIL) $ 5.12 9.32%