SAN DIEGO, U.S. — Youngevity International, Inc., 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.
