This post was originally published on this sitehttps://i-invdn-com.akamaized.net/news/LYNXMPEB2F0YA_M.jpg
Investing.com – Vaping company Juul Labs has raised a more funds for its operations at a time when the sector is getting hit hard by new regulations, The Wall Street Journal reported Thursday.
- Juul raised more than $700 million in convertible debt, the Journal said, citing people familiar with the matter.
- The company is facing numerous lawsuits over its marketing practices that allege it encouraged underaged vaping.
- Altria Group (NYSE:), which took a 35% stake in Juul in 2018, rose 1%. The tobacco giant wrote down another $4 billion on its investment in the vaping company last week, bringing the value of the stake to $12 billion from $38 billion originally.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.