Nautilus (NYSE: NLS) recently announced its entry into a definitive securities purchase agreement with a certain institutional investor for the purchase and sale of 4,098,362 shares of its common stock (or common stock equivalents), each at a purchase price of $1.22, in a registered direct offering. In addition, in a concurrent private placement, Nautilus announced that it would issue the investor warrants to purchase up to 4,098,362 shares of common stock. The warrants, with an exercise price of $1.35 per share, will have a 5 1/2-year term and be exercisable six months following the date of issuance. From gross proceeds of approximately $5 million, the company intends to use the net proceeds from the offering for general corporate purposes.
To view the full press release, visit https://ibn.fm/3pQtH
About Nautilus, Inc.
Nautilus is a global leader in digitally connected home fitness solutions. The company’s brand family includes Bowflex(R), Nautilus(R), Schwinn(R), and JRNY(R), its digital fitness platform. With a broad selection of exercise bikes, cardio equipment and strength-training products, Nautilus empowers healthier living through individualized connected fitness experiences and, in doing so, envisions building a healthier world, one person at a time. Headquartered in Vancouver, Washington, the company’s products are sold direct to consumer on brand websites and through retail partners and are available throughout the U.S. and internationally. For more information about the company, visit www.nautilusinc.com/investors.
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork