August 19, 2019 / 10:26 AM / a month ago

Juul raises $325 million in equity and debt financing

Aug 19 (Reuters) - E-cigarette maker Juul Labs Inc has raised $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 35% 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.

Altria shares were up about 1% in premarket trading. (Reporting by Siddharth Cavale in Bengaluru; Editing by Shinjini Ganguli)

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