Photo: Brianna Soukup / Getty Images

Juul Labs, a San Francisco-based maker of vaping devices, has secured $112 million of what could become a $150 million convertible note offering, per an SEC filing.

Why it matters: Because Juul's discrete devices are becoming ubiquitous among high school and college students — despite the official age minimum — and could become even bigger if marijuana legalization expands.

Juul spun out from parent company Pax Labs earlier this year and hired Kevin Burns to be its CEO. He's is a former top partner at private equity giant TPG Capital who left to help turn around yogurt-maker Chobani as COO.

Bottom line: "Juul's flat rectangular devices, shaped like USB sticks, hit the market in mid-2015 and have surpassed similar devices from the tobacco giants. Bonnie Herzog, an analyst at Wells Fargo, wrote in a report last month, citing Nielsen data over the prior four weeks, that Juul controls 32.9% of the market, ahead of British American Tobacco at 27.4% and Altria at 15.2%. According to the Nielsen data, Juul has generated revenue growth of almost 700 percent to $224.6 million in the past year." — Ari Levy, CNBC

A Juul spokeswoman declined to comment on the fundraising.

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Hiroshima mayor warns of rise of nationalism on 75th anniversary

Prime Minister Shinzo Abe (C) at the Memorial Cenotaph in the Peace Memorial Park during the 75th anniversary service for atomic bomb victims in Hiroshima, Japan, on Thursday. Photo: Philip Fong/AFP via Getty Images

Hiroshima's Mayor Kazumi Matsui on Thursday urged the international community to work together to defeat the coronavirus pandemic and warned against an increase in "self-centered nationalism," per the Washington Post.

Why it matters: He said at a remembrance service on the atomic bombing of the Japanese city that the 1918 flu pandemic killed millions as countries fighting in World War I were unable to overcome the threat together, per DPR. "A subsequent upsurge in nationalism led to World War II," he added. The U.S. bombing of Hiroshima on Aug. 6, 1945 and Nagasaki three days later contributed to the end of World War II, but tens of thousands of people died. At the service, Prime Minister Shinzo Abe lamented nuclear weapons' "inhumanity," but he didn't mention Japan's wartime past, WashPost noted.

Go deeper: How new tech raises the risk of nuclear war

LeBron James on Trump NBA protest remarks: "We could care less"

The Los Angeles Lakers' LeBron James kneels during the national anthem before the game against the Oklahoma City Thunder in Lake Buena Vista, Florida, on Wednesday. Photo: Kevin C. Cox/Getty Images

LeBron James responded on Wednesday night to President Trump's comments calling NBA players "disgraceful" for kneeling during the national anthem to protest racism and that he won't watch games because of the action.

The big picture: Trump has repeatedly criticized sports players for taking the knee since 2016. But James said during a news conference, "I really don’t think the basketball community are sad about losing his viewership, him viewing the game." November's elections marked "a big moment for us as Americans," he said. "If we continue to talk about, 'We want better, we want change,' we have an opportunity to do that," he added. NBA Commissioner Adam Silver has said the league will "respect peaceful protest."

Go deeper: LeBron James forms voting rights group to inspire Black voters

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of midnight ET: 18,752,917 — Total deaths: 706,761— Total recoveries — 11,308,298Map.
  2. U.S.: Total confirmed cases as of midnight ET: 4,821,296 — Total deaths: 158,249 — Total recoveries: 1,577,851 — Total tests: 58,920,975Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Cities: L.A. mayor authorizes utilities shut-off at homes hosting large gatherings
  7. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.