The Altria-backed electronic cigarette maker has secured new funding according to a regulatory filing, as it prepares to fight an upcoming lawsuit.
Juul, the US-based e-cigarette manufacturer backed by tobacco company Altria, has raised $325m in new financing, according to a securities filing yesterday.
The capital is a mixture of debt and equity and was raised in the form of convertible note financing, three people familiar with the deal told the Financial Times.
One of the FT’s sources identified hedge fund manager Tiger Global Management as one of the four participants in the bridge round.
Spun off by vaporiser producer Pax Labs…
