By James McCandless
San Antonio, Dec. 18 – Youngevity International, Inc. priced $6.13 million of 9.75% series D cumulative redeemable perpetual preferred stock at $22.75 per share for proceeds of $5.58 million on Wednesday, according to a press release.
There is a greenshoe for 36,809 shares.
The preferreds have a $25.00 liquidation preference.
Dividends will be payable on the 15th day of each month.
Benchmark Co., LLC is the bookrunner.
Youngevity plans to use the proceeds for working capital and other general corporate purposes.
The preferreds will be listed on the Nasdaq under the symbol “YGYIP.”
Youngevity is a Chula Vista, Calif.-based marketer of wellness products.
| Issuer: | Youngevity International, Inc.
|
| Description: | Series D cumulative redeemable perpetual preferred stock
|
| Amount: | $6,134,950, or 245,398 shares
|
| Proceeds: | $5.58 million
|
| Greenshoe: | $920,225, or 36,809 shares, for proceeds of $837,404
|
| Maturity: | Perpetual
|
| Bookrunner: | Benchmark Co., LLC
|
| Dividend: | 9.75%
|
| Price: | $22.75
|
| Liquidation preference: | $25.00
|
| Call: | Beginning Sept. 23, 2022 at par of $25.00
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 20
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: YGYIP
|
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