YGYI - NetworkNewsBreaks - Youngevity International Inc. (NASDAQ: YGYI) Closes $8.3M Public Offering; Launches HEMP FX Brand in Japan
Youngevity International (NASDAQ: YGYI), a leading multi-channel lifestyle company operating in three distinct business segments, on Tuesday announced the closing of its underwritten public offering of 333,500 shares of its 9.75% Series D Cumulative Redeemable Perpetual Preferred Stock, including 43,500 shares pursuant to the exercise of the over-allotment option by the underwriters. The shares were sold at a public offering price of $25.00 each, resulting in gross proceeds of $8,337,500, prior to withholding discount, commissions and estimated offering expenses. The Benchmark Company, LLC acted as sole book-running manager of the offering.
In addition, YGYI this morning announced the launch of Hemp FX in Japan. Hemp FX is a phytocannabinoid-rich hemp oil product line that includes three proprietary formulas featuring full-spectrum, organically grown hemp oil. Hemp FX Soothe, Hemp FX Capsules and Hemp FX Tincture have obtained the applicable approvals and are now available for purchase in Japan. “Hemp FX is an ideal representation of our plant-based approach to product development. These select products are being offered in this initial launch, and we expect the Hemp FX line will continue to grow, with more products becoming available for sale in Japan in the near future,” Youngevity CEO Steve Wallach stated in the news release. “This product launch has really been creating excitement in the Japanese market and we expect that it will provide significant growth within our distributor base in Japan.”
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About Youngevity International Inc.
Youngevity International Inc. is a multi-channel lifestyle company operating in three distinct business segments, including a commercial coffee enterprise, a commercial hemp enterprise and a multi-vertical omni direct selling enterprise. The company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity; YGYI offers products from the six top-selling retail categories, including health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry and innovative services. For more information, visit the company’s website at www.YGYI.com.
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