Chula-Vista-based Youngevity International Inc., an omni-direct lifestyle company, and a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced recently that its common stock commenced trading on The NASDAQ Capital Market LLC under the symbol YGYI.
Youngevity said it plans to participate in a bell ringing ceremony at the NASDAQ MarketSite at Times Square in New York City on a date to be determined.
“To say we have dreamed about, planned, and anxiously waited for this day for years would be an understatement,” said Steve Wallach, chairman and CEO of Youngevity. “Our executive team and board have been focused on this goal for quite some time, yet we were patient in our approach, believing our growth as a company needed to provide the foundation to justify listing on the NASDAQ. Today, we are rewarded for our patience and look forward to telling the Youngevity story to a wider array of investors worldwide.”
Youngevity stressed the value of the listing to investors.
“We believe NASDAQ offers increased liquidity and visibility as one of the most respected exchanges in the world, and we look forward to those attributes contributing to the recognition of what Youngevity and YGYI are all about,” said Dave Briskie, president and CFO of Youngevity.
In other company news, Youngevity International also recently announced it has entered into a definitive agreement for the acquisition of the assets of Sorvana International.
According to Youngevity, Sorvana was formed in 2016 through the unification of two natural wellness companies, FreeLife and L'dara. FreeLife has been in business for 22 years providing natural wellness products predominantly in the United States, Canada, Australia, and Philippines and L'dara is known for its patented skin care products. Youngevity and Sorvana have scheduled the closing of the transaction and the merger of the businesses to take place on July 1, 2017.
Terms of the deal were not disclosed.