NutriSystem Goes Public

    May 3, 2005
    Chris Crum

Weight management program provider, NutriSystem has filed with the SEC for a public offering.

NutriSystem will offer 4,415,000 shares of its common stock. The Company itself will be offering 1,800,000 shares while stockholders will be offering 2,615,000.

According to a press release, the Company will also grant the underwriters a 30-day option to purchase up to an additional 662,250 shares for over-allotment purposes.

The company will not receive any proceeds from the sale of shares of common stock by the selling stockholders.

NutriSystem plans to use the net proceeds it will receive from the offering to enter additional channels of distribution, launch new products and services, enter international markets, make strategic acquisitions, etc.

Thomas Weisel Partners, Legg Mason Wood Walker, and the Seidler Companies are the managing underwriters for the offering.

Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.