Turning Point Brands Announces Third Quarter 2023 Results and Closing of New ABL Facility
The Zig-Zag segment was stable sequentially from the second quarter and notwithstanding some transitory headwinds posted its third-highest revenue quarter.
- The Zig-Zag segment was stable sequentially from the second quarter and notwithstanding some transitory headwinds posted its third-highest revenue quarter.
- Stoker’s had another solid quarter of performance led by double-digit growth year-over-year in Stoker’s MST.
- We further de-levered the balance sheet with an opportunistic purchase of $15 million in aggregate principal amount of our convertible notes during the third quarter.
- The new facility replaces a $25 million senior secured revolving credit facility which was scheduled to mature in August 2025.