Blueprint
Exhibit
99.2
Youngevity International, Inc. Announces Closing of $5.58 Million
Public Offering of Series D Cumulative Redeemable Perpetual
Preferred Stock
SAN DIEGO, December 20, 2019 /PRNewswire/—Youngevity
International, Inc. (NASDAQ:YGYI and YGYIP), a leading
multi-channel lifestyle company, today announced the closing of its
previously announced 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
received gross proceeds of approximately $5.58 million from the
offering. The shares of Series D Preferred Stock trade on the
Nasdaq Capital Market under the symbol “YGYIP.” The
shares of Series D Preferred Stock are not 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 final
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. Electronic copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained 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 and include
statements regarding the intended use of proceeds. 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.