SAN DIEGO, Dec. 20, 2019 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ:YGYI and YGYIP), a leading
multi-channel lifestyle company, today announced the closing of its
previously announced 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 received gross
proceeds of approximately $5.58
million from the offering. The shares of Series D Preferred
Stock trade on the Nasdaq Capital Market under the symbol "YGYIP."
The shares of Series D Preferred Stock are not 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 final
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. Electronic copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained 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 and include statements regarding the
intended use of proceeds. 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
1 800 982 3189 X6500
Investor Relations
YGYI Investor Relations
800.504.8650
investors@ygyi.com
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SOURCE Youngevity International, Inc.