“Today marks a fresh financial start for the NJOY brand,” said Douglas Teitelbaum, Chairman and CEO of NJOY, LLC.
Scottsdale, Arizona (PRWEB)
February 23, 2017
NJOY, LLC (“NJOY” or the “Company”) announced the acquisition of the assets of NJOY, Inc. in connection with NJOY, Inc.’s financial restructuring.
In conjunction with this acquisition, NJOY completed a $35 million equity capital raise, and is now a well-capitalized entity with no debt and substantial liquidity. NJOY is committed to offering the adult smoker the very finest alternatives to smoking and building upon its position as the pioneering independent electronic cigarette brand. With its strong balance sheet, NJOY is now poised to work with its distribution partners to build upon its’ position as the leading independent brand, and will continue to innovate the advancement of the finest electronic nicotine delivery products. The total capital investment in NJOY LLC, to support the acquisition and to capitalize the company, was $35 million, the majority of which came from lead investor Mudrick Capital Management.
“Today marks a fresh financial start for the NJOY brand,” said Douglas Teitelbaum, Chairman and CEO of NJOY, LLC. “With the completion of…