GNC Holdings (GNC) IPO Prices at $16

April 1, 2011 9:27 AM EDT
GNC Holdings, Inc. (NYSE: GNC) priced its initial public offering of 22.5 million shares at $16 per share, the middle of the expected $15-$17 range. Shares will open today on the NYSE under the symbol "GNC."

16 million shares are being issued and sold by the Company and 6.5 million shares are being sold by selling stockholder.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC, along with Deutsche Bank Securities Inc. and Morgan Stanley & Co. Incorporated, are acting as joint bookrunners for the offering.

GNC is a leading global specialty retailer of nutritional products including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products. As of December 31, 2010, GNC has more than 7,200 locations, of which more than 5,600 retail locations are in the United States.

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