SAN DIEGO, Dec. 18, 2019 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ:YGYI and YGYIP), a leading
multi-channel lifestyle company, today announced the pricing of its
underwritten public offering of 245,398 shares of its 9.75% Series
D Cumulative Redeemable Perpetual Preferred Stock at a price to the
public of $22.75 per share. The
Company expects to receive gross proceeds of approximately
$5.58 million from the offering. The
closing of the offering is expected to occur on or about
December 20, 2019, subject to the
satisfaction of customary closing conditions. The shares of Series
D Preferred Stock trade on the Nasdaq Capital Market under the
symbol "YGYIP." The shares will not be convertible into or
exchangeable for any of the company's other securities.
The underwriters have been granted a 45-day option to purchase
up to 36,809 additional shares of Series D Preferred Stock from the
company, exercisable in whole or in part, solely to cover
over-allotments, at the public offering price less the underwriting
discount.
The Company intends to use the net proceeds from the offering
for working capital and other general corporate purposes.
The Benchmark Company, LLC is acting as sole book-running
manager of the offering.
The securities described above were offered by the company
pursuant to a "shelf" registration statement on Form S-3 (File No.
333-225053) previously filed with the Securities and Exchange
Commission ("SEC") on May 18, 2018
and declared effective on May 29,
2018.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. A preliminary
prospectus supplement and an accompanying prospectus relating to
the offering has been filed with the SEC and is available on the
SEC's website at www.sec.gov. A final prospectus supplement
and accompanying prospectus will be filed with the SEC. Electronic
copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may also be obtained, when
available, from The Benchmark Company, LLC, Attn: Prospectus
Department, 150 E. 58th Street, 17th floor, New York, NY 10155 or by calling 212-312-6700
or by emailing prospectus@benchmarkcompany.com.
About Youngevity International, Inc.
Youngevity International, Inc. (NASDAQ: YGYI and YGYIP), is
a multi-channel lifestyle company operating in 3 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: health/nutrition, home/family,
food/beverage (including coffee), spa/beauty, apparel/jewelry, as
well as innovative services.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These forward-looking
statements are based on management's expectations and assumptions
as of the date of this press release and are subject to a number of
risks and uncertainties, many of which are difficult to predict
that could cause actual results to differ materially from current
expectations and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, our ability to drive revenue in our
commercial coffee segment, our ability to develop and grow
our hemp commercial segment, our ability to continue our
international growth, our ability to leverage our platform and
global infrastructure to drive organic growth, our ability to
return to profitability, expand our liquidity, and strengthen
our balance sheet, our ability to continue to maintain compliance
with the NASDAQ requirements, the acceptance of the omni-direct
approach by our customers, our ability to expand our distribution,
our ability to add additional products (whether developed
internally or through acquisitions), and the other factors
discussed in the preliminary prospectus supplement and accompanying
base prospectus and our Annual Report on Form 10-K for the year
ended December 31, 2018 and our
subsequent filings with the SEC, including subsequent periodic
reports on Forms 10-Q and 8-K. The information in this release is
provided only as of the date of this release, and we undertake no
obligation to update any forward-looking statements contained in
this release on account of new information, future events, or
otherwise, except as required by law.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
800-982-3189 X6500
Investor Relations
YGYI Investor Relations
800-504-8650
investors@ygyi.com
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SOURCE Youngevity International, Inc.