E-cigarette maker Juul to explore options including financing

Business

Jul.18.2022

(Reuters) -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.

E-cigarette maker Juul to explore options including financing

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.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh Kuber)

The content excerpted or reproduced in this article comes from a third-party, and the copyright belongs to the original media and author. If any infringement is found, please contact us to delete it. Any entity or individual wishing to forward the information, please contact the author and refrain from forwarding directly from here.

#Juul #E-cigarette #E-cigarettes and Tobacco

China Tobacco Regulation Shift：Policy Updates and Market Impact

China Tobacco Regulation Shift：Policy Updates and Market Impact

JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10

JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10

Japan Tobacco Inc. (JT) began advance sales on March 10 for the fifth limited-edition color of its heated tobacco device “Ploom AURA,” named “Fuchsia Flare.” The product is available through the CLUB JT online shop and Ploom Shops nationwide at a price of JPY 2,980. From March 17, it will also be sold in limited quantities at convenience stores nationwide and selected tobacco retailers.

Mar.10 by 2FIRSTS.ai

Research Summary | NHANES Study: Smoking or E-Cigarette Use Linked to Higher Prevalence of Elevated Blood Pressure and Hypertension

Research Summary | NHANES Study: Smoking or E-Cigarette Use Linked to Higher Prevalence of Elevated Blood Pressure and Hypertension

A cross-sectional analysis based on the US NHANES 2021–2023 cycle, including 6,262 participants aged over 12, found that compared with people who neither smoke nor vape, those who smoke and/or use e-cigarettes had a higher prevalence of elevated blood pressure and hypertension. After full adjustment, smoking/vaping was associated with elevated blood pressure (aOR 1.34) and hypertension (aOR 1.46), and with a 1.05 mmHg higher diastolic blood pressure.

Feb.09 by 2FIRSTS.ai

Vape sellers sue to block Texas law banning e-liquids from China and other “foreign adversaries”

Vape sellers sue to block Texas law banning e-liquids from China and other “foreign adversaries”

A group of vape distributors and retailers has sued to block enforcement of a Texas law that criminalizes selling or marketing vape products containing e-liquids made wholly or partly in China or in countries designated as “foreign adversaries” by the U.S. Commerce Secretary. The plaintiffs argue the law violates the U.S. Constitution because only Congress may regulate foreign commerce.

Feb.03 by 2FIRSTS.ai

FDA Commissioner Stresses “Predictability” as Science Chief Addresses Industry Uncertainty

FDA Commissioner Stresses “Predictability” as Science Chief Addresses Industry Uncertainty

FDA Commissioner Marty Makary briefly appeared at the February 10 PMTA roundtable, underscoring the importance of regulatory predictability. At the close of the session, Office of Science Director Matthew Farrelly responded to industry concerns over review uncertainty, stating the agency will issue a written summary of feedback, while reiterating that no fixed quantitative risk benchmark governs authorization decisions.

Scientific talk in Bursa Nilüfer spotlights cigarette and e-cigarette addiction and youth risks

Scientific talk in Bursa Nilüfer spotlights cigarette and e-cigarette addiction and youth risks

Nilüfer Municipality in Bursa held a scientific talk titled “Does Addiction Change Form? Cigarettes, E-Cigarettes and Lung Health” as part of February 9 Quit Smoking Day, aiming to raise awareness of the social impact of tobacco addiction. Experts discussed cigarette and e-cigarette addiction, risks for young people, harms of secondhand smoke for children, and health outcomes linked to tobacco use.

Feb.10 by 2FIRSTS.ai

Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026

Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026

Azerbaijan’s Milli Majlis has adopted, in its third reading, amendments to the Code of Administrative Offences introducing fines and confiscation for the use of e-cigarettes and their components, as well as import, export, production, wholesale and retail sales, and storage for sale.

Mar.04 by 2FIRSTS.ai

Related Topics

News

Related Read

JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10

JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10

Research Summary | NHANES Study: Smoking or E-Cigarette Use Linked to Higher Prevalence of Elevated Blood Pressure and Hypertension

Research Summary | NHANES Study: Smoking or E-Cigarette Use Linked to Higher Prevalence of Elevated Blood Pressure and Hypertension

Vape sellers sue to block Texas law banning e-liquids from China and other “foreign adversaries”

Vape sellers sue to block Texas law banning e-liquids from China and other “foreign adversaries”

FDA Commissioner Stresses “Predictability” as Science Chief Addresses Industry Uncertainty

FDA Commissioner Stresses “Predictability” as Science Chief Addresses Industry Uncertainty

Scientific talk in Bursa Nilüfer spotlights cigarette and e-cigarette addiction and youth risks

Scientific talk in Bursa Nilüfer spotlights cigarette and e-cigarette addiction and youth risks

Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026

Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026