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EX-5.1 - 5.1 - Youngevity International, Inc. | ex5-1.htm |
EX-3 - 3.2 - Youngevity International, Inc. | ex3-2.htm |
EX-1 - 1.1 - Youngevity International, Inc. | ex1-1.htm |
8-K - CURRENT REPORT - Youngevity International, Inc. | ygyi8k_dec172019.htm |
Exhibit 99.1
Youngevity International, Inc. Announces Pricing of $5.58 Million
of
Series D Cumulative Redeemable Perpetual Preferred Stock
Offering
SAN DIEGO, December 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.