Banking & Finance, Manufacturing, and Retail

E-cigarette maker plans public offering up to $150M

October 13, 2014
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E-cigarette maker rolls out $20M marketing campaign
Electronic Cigarettes International Group, or ECIG, is an over-the-counter stock with a market capitalization of $13.99 million as of Dec. 12, 2014. Photo via

An e-cigarette maker trading as an over-the-counter stock is planning a public offering of up to $150 million of its common stock, in connection with the listing of its common stock on the NASDAQ.

Electronic Cigarettes International Group in Grand Rapids, or ECIG, announced its plans last week.

ECIG trades on the other-the-counter bulletin board, or OTCBB, under the ticker ECIG. The company plans to trade on NASDAQ under the same ticker.

ECIG has a market capitalization of $325.85 million as of today.

The offering

ECIG said a registration statement relating to the offering of common stock has been filed by ECIG with the Securities and Exchange Commission, but has not yet become effective.

The securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective.

“Certain selling shareholders” are offering 4,890,200 shares of ECIG’s common stock, and the company will “offer the balance.”

ECIG 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 price per share of common stock in the offering.


Wells Fargo Securities and Canaccord Genuity are acting as joint book-running managers for the offering.

Societe Generale and Stephens are acting as co-managers.


ECIG owns the trademarks for Vapestick, Fin, Victory, VIP and others.

The company has operations in the U.S. and the U.K. and its products are also distributed in western Europe.

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