Youngevity to sell $10 million 9.75% cumulative perpetual preferreds

By James McCandless

San Antonio, Sept. 5 – Youngevity International, Inc. plans to price a $10 million offering of series D cumulative redeemable perpetual preferred stock with a dividend of 9.75%, according to a 424B5 filing with the Securities and Exchange Commission.

Benchmark Co. LLC is the bookrunner.

The preferreds are redeemable after three years. Prior to that, they are redeemable within 120 days after a change of control.

Youngevity plans to use the proceeds for working capital and other general corporate purposes.

The company plans to list the preferreds on the Nasdaq under the symbol “YGYIP.”

Youngevity is a Chula Vista, Calif.-based marketer of wellness products.

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