E-cigarette maker Juul has raised more than $700 million in debt to fund its operations as the company deals with growing regulatory and financial pressures.
The embattled company has been the face of a vaping crisis sweeping the country, causing it to fight lawsuits, deal with regulatory scrutiny, and adapt its business while watching its valuation slide.
The latest fundraising comes as investors like cigarette company Altria recorded heavy losses in their Juul investment and slashed their valuations of the company
A Juul spokesperson told Business Insider that the company remains committed to combatting underage use of its products and had “refrained from lobbying the Administration on its draft flavor guidance,” among other measures.
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E-cigarette maker Juul has raised more than $700 million in debt to fund its operations, Business Insider has learned. The news was first reported by the Wall Street Journal on Thursday.
The fundraising comes just one week after cigarette company Altria booked a $4 billion impairment charge on its Juul investment, almost a third of its original $12.8 billion investment in the company.See the rest of the story at Business Insider
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