E-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.

Source: Wall Street Journal May 01, 2019 18:43 UTC