Convertible Note 2021
The Future of Vaping
Launched April 2019
Revenue 2019: $97.5M
Revenue 2020: $180M
Projected Revenue 2021: $530M
Gross Margin: 40% up to 67%
only vaping with its own R&D
1 of the 2 only Tobacco Licenses
1) SnowPlus has invited VERSO Capital to join their new convertible note. Our Board Advisor, Andrew Stewart is an existing investor and a close advisor to the
2) SnowPlus is raising a convertible note at a $2bn cap or 20% discount to the next equity round
3) The note is currently 2-3x oversubscribed and the original $60m target raise will most likely be increased in early March 2021
4) The pre-IPO round will occur in 3Q21 or 4Q21 at a minimum of $6bn valuation.
5) We have already began conversations with will-be lead investors for the pre-IPO round
6) IPO target is 2H 22’, valuation is currently targeting $15bn+ (public comp RLX, using their 30x fwd p/s). Already speaking to two potential lead underwriters.