FILE PHOTO: Juul brand vaping pens are seen for sale in a shop in Manhattan in New York City, New York, U.S., February 6, 2019. REUTERS/Mike Segar
E-cigarette maker Juul Labs Inc has raised US$325 million in an equity and debt offering, a regulatory filing showed on Monday, as the company looks to speed up its global expansion at a time it is facing growing U.S. regulatory scrutiny.
REUTERS: E-cigarette maker Juul Labs Inc has raised US$325 million in an equity and debt offering, a regulatory filing showed on Monday, as the company looks to speed up its global expansion at a time it is facing growing U.S. regulatory scrutiny.
The Securities and Exchange Commission filing from the company, which is 35per cent owned by Marlboro maker Altria Group Inc , also showed that the funds were not intended to be used for transactions, such as a merger, acquisition or exchange offer, or to pay executives, promoters or directors.
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Altria shares were up about 1per cent in premarket trading.
(Reporting by Siddharth Cavale in Bengaluru; Editing by Shinjini Ganguli)
