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.
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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.
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