Industry News

NJOY, a Once Bankrupt E-Cigarette Maker, Now Seeks $5 Billion Valuation

Company rolls out new device and seeks out big tobacco companies looking to take a run at Juul.

ingE-cigarette maker NJOY Holdings Inc. is pursuing a funding round that would value the company at as much as $5 billion, and it is trying to interest big tobacco companies looking to take a run at market leader Juul Labs, according to people familiar with the matter.

The discussions mark a turnaround for NJOY, an e-cigarette pioneer that filed for bankruptcy protection three years ago saddled with debts and plunging sales when a new product failed to catch on.

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