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.”
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.
NOTE TO INVESTORS: The latest news and updates
relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
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