Electronic Cigarettes International Group Announces Public Offering of up to $150,000,000 of Common Stock Concurrent with Its Planned NASDAQ Listing
7 days 12 hours 46 minutes ago - DJNF
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--October 08, 2014--
Electronic Cigarettes International Group Ltd. (OTCQB: ECIG), an independent marketer and distributor of electronic cigarettes, today announced that, subject to market and other conditions, it and certain selling stockholders intend to offer up to $150,000,000 of common stock, in connection with the listing of its common stock on the NASDAQ under the symbol "ECIG". The selling shareholders are offering 4,890,200 shares of our common stock and we will offer the balance.
Electronic Cigarettes International Group and certain selling stockholders have granted the underwriters an option for a period of 30 days to purchase up to an additional $22,500,000 of common stock. If exercised, any additional shares will be offered at the public offering price per share of common stock in this offering.
Wells Fargo Securities and Canaccord Genuity Inc. are acting as joint book-running managers for the offering. Societe Generale and Stephens are acting as co-managers.
A registration statement relating to the offering of common stock has been filed by the Company with the Securities and Exchange Commission (as amended, the "Registration Statement"), but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This offering may only be made by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained by contacting: Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: (800) 326-5897 or via email at
cmclientsupport@wellsfargo.com, or Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, telephone: (617) 371-3900.
About Electronic Cigarettes International Group, Ltd.
Electronic Cigarettes International Group is dedicated to providing a compelling alternative for the more than 1 billion current smokers around the world. ECIG is a fast-growing independent electronic cigarette company, and owns the trademarks VAPESTICK(R), FIN(R), Victory(R), VIP(R), and others. The Company has operations in the United States and the United Kingdom and its products are also distributed in Western Europe. ECIG offers consumers a full product portfolio that incorporates the highest quality and latest technology.