GNC HOLDINGS, INC. (NYSE:GNC) Files An 8-K Regulation FD DisclosureItem 7.01.Regulation FD Disclosure.
On December 4, 2017, GNC Holdings, Inc. (the “Company”) issued a press release announcing that it has decided not to proceed with its previously announced plan to issue, via its wholly-owned subsidiary, General Nutrition Centers Inc. (the "Issuer"), senior secured notes due 2022 (the "Notes") as the terms and conditions were not sufficiently attractive for the Company to move forward. The Company also withdrew its plan to enter into a new senior secured term loan facility and a new senior secured asset-based revolving credit facility at this time. The Company also announced that it has retained Goldman Sachs and Co. LLC as its strategic advisor to help the Board of Directors evaluate alternatives to optimize the Company's capital structure and other alternatives to enhance shareholder value.
On December 4, 2017, the Company issued a press release announcing, among other things, the withdrawal of its offer to issue Notes by the Issuer. The full text of the press release is furnished hereto as Exhibit 99.1.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressively set forth by specific reference in such filing.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits:
Exhibit NumberDescription
99.1Press release dated December 4, 2017
GNC HOLDINGS, INC. ExhibitEX-99.1 2 exhibittonotesannouncement.htm EXHIBIT 99.1 Exhibit GNC Withdraws Proposed Offering of Senior Secured NotesCompany Retains Goldman Sachs to Review Alternatives to Optimize its Capital Structure and Enhance Shareholder ValuePITTSBURGH,…To view the full exhibit click here
About GNC HOLDINGS, INC. (NYSE:GNC)
GNC Holdings, Inc. is a specialty retailer of health, wellness and performance products, including vitamins, minerals and herbal supplement products (VMHS), sports nutrition products and diet products. The Company operates in three segments: Retail, Franchising and Manufacturing/Wholesale. The Retail segment includes sales of products to customers at its company-owned stores in the United States, Canada, Puerto Rico and Ireland and through its Websites, GNC.com and LuckyVitamin.com. Its Franchise segment consists of its domestic and international franchise operations. Its Manufacturing/Wholesale segment consists of its manufacturing operations in South Carolina and its wholesale sales business. The Company’s brands include Mega Men, Ultra Mega, Total Lean, Pro Performance and Pro Performance AMP, Beyond Raw, GNC Puredge, GNC GenetixHD and Herbal Plus. The Company offers products through GNC.com, LuckyVitamin.com and www.drugstore.com.
