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03.03.99
DIRECT FOCUS, INC. FILES FOR PUBLIC OFFERING OF COMMON STOCK IN THE U.S.
DIRECT FOCUS, INC. FILES FOR PUBLIC OFFERING OF COMMON STOCK IN THE U.S.
DIRECT FOCUS, INC. FILES FOR PUBLIC OFFERING OF COMMON STOCK IN THE U.S.
VANCOUVER, WA...March 3, 1999...Direct Focus, Inc. (Toronto: DFX), a direct marketing company, filed today with the U.S. Securities and Exchange Commission to sell 1,000,000 shares of its common stock in a public offering, with the company offering 825,000 shares and selling shareholders 175,000 shares.
The proposed stock offering is the first in the United States for the company which has been trading on the Toronto Stock Exchange since 1993. The company also said that it has applied to trade its common stock on Nasdaq under the symbol DFXI. Following the offering, Direct Focus will have 10,357,939 shares outstanding.
Net proceeds will be used for working capital, capital equipment purchases and other general corporate purposes. D.A. Davidson is the underwriter for the offering and has an over-allotment option on 150,000 additional shares.
Direct Focus, Inc. currently markets two lines of products-Bowflex home fitness equipment and Instant Comfort sleep systems-directly to customers via advertising on national cable television networks, printed media and the World Wide Web. On January 4, 1999, Direct Focus finalized the acquisition of substantially all the assets of Nautilus International, Inc. from Delta Woodside Industries, Inc. (NYSE: DLW), including existing manufacturing, warehousing and office facilities located in Independence, Virginia. For year ended December 31, 1998, Direct Focus generated sales of $57.3 million (US) and net income of $12.5 million, up 188 percent and 421 percent respectively from fiscal 1997.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement is filed and becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
The proposed stock offering is the first in the United States for the company which has been trading on the Toronto Stock Exchange since 1993. The company also said that it has applied to trade its common stock on Nasdaq under the symbol DFXI. Following the offering, Direct Focus will have 10,357,939 shares outstanding.
Net proceeds will be used for working capital, capital equipment purchases and other general corporate purposes. D.A. Davidson is the underwriter for the offering and has an over-allotment option on 150,000 additional shares.
Direct Focus, Inc. currently markets two lines of products-Bowflex home fitness equipment and Instant Comfort sleep systems-directly to customers via advertising on national cable television networks, printed media and the World Wide Web. On January 4, 1999, Direct Focus finalized the acquisition of substantially all the assets of Nautilus International, Inc. from Delta Woodside Industries, Inc. (NYSE: DLW), including existing manufacturing, warehousing and office facilities located in Independence, Virginia. For year ended December 31, 1998, Direct Focus generated sales of $57.3 million (US) and net income of $12.5 million, up 188 percent and 421 percent respectively from fiscal 1997.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement is filed and becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.