Juul Labs said on Monday it has raised $1.3 billion in equity financing from a total offering amount of $1.6 billion, according to a regulatory filing.

The funding round comes months after the e-cigarette maker revealed plans to lay off about 30% of its workforce to reduce its operating costs.

Juul did not immediately respond to a request for comment on how the company plans to use these funds.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Shounak Dasgupta)