© Reuters. Juul brand vaping pens are displayed for sale at a Juul shop in Jakarta, Indonesia, December 30, 2019. Picture taken December 30, 2019. REUTERS/Ajeng Dinar Ulfiana
(Reuters) – Juul Labs said on Monday it has raised $1.3 billion in equity financing from a total offering amount of $1.6 billion, according to a regulatory filing.
The funding round comes months after the e-cigarette maker revealed plans to lay off about 30% of its workforce to reduce its operating costs.
Juul did not immediately respond to a request for comment on how the company plans to use these funds.
