E-cigarette maker NJOY hires bankers for possible sale - WSJ

Industry Insight by Nasdaq
Jul.20.2022
E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Adds details from the report, background

E-cigarette maker NJOY hires bankers for possible sale - WSJ

July 19 (Reuters) - E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

 

The report added the privately held NJOY is likely to be valued at up to $5 billion, according to the sources who cautioned the process was still at an early stage and there was no guarantee a deal would materialize. (https://on.wsj.com/3PHG41Y)

 

If NJOY does not receive a high enough valuation, the company could raise money and stay private, potentially paving the way for a future initial public offering, the Wall Street Journal said.

 

The e-cigarette maker is simultaneously exploring a new fundraising round and aims to raise between $300 million and $500 million, the report added.

 

 

NJOY and Mudrick Capital Management, a majority owner of the company, did not immediately respond to a Reuters request for comment.

 

Late June, Bernstein analyst Callum Elliott wrote in a note that Altria could try to buy privately owned NJOY, which has already succeeded with its PMTA (Premarket Tobacco Product Application) process applications.

 

Rival Juul Labs Inc said on Friday it was 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.

 

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)

 

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.

Cambodia MoT warns: Businesses using vaping and shisha  will have their operating licences revoked
Cambodia MoT warns: Businesses using vaping and shisha will have their operating licences revoked
Cambodia’s Ministry of Tourism has issued a new directive prohibiting all tourism service establishments from possessing, selling, importing, storing, or advertising e-cigarettes and shisha-related products. Violators will face written warnings, suspension of operations, or even revocation of their tourism business licenses. The measure is part of a nationwide ban enacted under Sub-Decree No. 02 BB, issued by the Royal Government on October 21.
Nov.21 by 2FIRSTS.ai
ceshi1111
ceshi1111
Trusted by industry leaders and innovators, ARAC brings unmatched expertise in Modules 5 & 6, including label and claim development, comprehension testing, human factors/usability, and clinical-behavioral research such as actual use and switching studies. These studies generate the robust, real-world evidence needed to evaluate whether products are “Appropriate for the Protection of Public Health” (APPH) -- including randomized experimental longitudinal, actual use, cohort st
Oct.21
WHO's First Global E-Cigarette Data: Over 100 Million Users, Youth Risk 9 Times Higher
WHO's First Global E-Cigarette Data: Over 100 Million Users, Youth Risk 9 Times Higher
The WHO's first global estimate on October 6 showed over 100 million people use e-cigarettes, including at least 15 million adolescents (aged 13–15). The report warned that in reporting countries, children are nine times more likely to vape than adults.
Oct.07 by 2FIRSTS.ai
Philip Morris International Fails to Invalidate British American Tobacco Unit’s Vape Patent
Philip Morris International Fails to Invalidate British American Tobacco Unit’s Vape Patent
The European Patent Office’s Board of Appeal upheld British American Tobacco’s Nicoventures Trading Ltd. vape patent, rejecting Philip Morris International’s objections. The board ruled that the patent’s use of predefined heater activation parameters not based on user puffs was novel and valid.
Nov.10
UK’s Nationwide Crackdown Seizes 111,000 Illegal Vapes in “Machinize 2” Operation
UK’s Nationwide Crackdown Seizes 111,000 Illegal Vapes in “Machinize 2” Operation
UK police have carried out a nationwide crackdown under Operation Machinize 2, targeting illegal vapes, counterfeit goods, and grey-market businesses. Raids on more than 2,700 premises led to 924 arrests and the seizure of 111,000 illegal vapes, 70kg of cannabis, 4.5m cigarettes, and £10.7m in proceeds.
Nov.11 by 2FIRSTS.ai
Leaked EU Paper Suggests COP11 Push to Ban Nicotine Pouches and Flavoured Nicotine Products
Leaked EU Paper Suggests COP11 Push to Ban Nicotine Pouches and Flavoured Nicotine Products
According to media reports, a leaked European Commission document indicates the EU plans to push for its strictest regulatory framework on nicotine and tobacco products at COP11 in Switzerland this November, including measures such as a full ban on nicotine pouches and flavoured products.
Oct.10 by 2FIRSTS.ai