Innovation Ventures LLC, the holding company of Living Essentials LLC (Farmington Hills, Mich.), which makes 5-Hour Energy, has sold $450 million of senior secured notes in a private placement, more than the originally planned $400 million. Founded by Manoj Bhargava in 2000, net sales of the 5-Hour Energy shot were $595.8 million last year, according to offering documents cited by contributor Dale Buss at Forbes.com.While the company saw sales flatten for the second quarter primarily due to a decrease in sales to mass merchandisers, the Forbes article also indicated that the company believes growth potential remains, with new products, expanded distribution, and additional manufacturing capacity under consideration.
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