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05.05.99
DIRECT FOCUS, INC. COMPLETES PUBLIC OFFERING OF COMMON STOCK IN U.S.
DIRECT FOCUS, INC. COMPLETES PUBLIC OFFERING OF COMMON STOCK IN U.S.
DIRECT FOCUS, INC. COMPLETES PUBLIC OFFERING OF COMMON STOCK IN U.S.
VANCOUVER, WA...May 5, 1999...Direct Focus, Inc. (Nasdaq: DFXI) today announced its public offering of one million shares of common stock at $20.50 per share. The company offered 825,000 shares and selling shareholders the additional 175,000 shares. The offering is being managed by D.A. Davidson & Co. and First Security Van Kasper.
The $15.1 million in net proceeds from the offering will be used primarily for additional working capital, capital equipment purchases and other general corporate purposes.
With the completion of the offering, Direct Focus now has 10.3 million common shares outstanding. The company's stock began trading on Nasdaq today at which time trading on the Toronto Stock Exchange was halted. Direct Focus had been listed on the Toronto Stock Exchange (TSE: DFX) since 1993.
Direct Focus is a direct marketing company that develops and markets high-end branded consumer products. The company currently markets three lines of products-Bowflex home fitness equipment, Nautilus fitness equipment and Nautilus sleep systems - directly to customers via advertising on television, printed media and the world wide web. In January 1999, the company acquired Nautilus for $18.8 million.
A final prospectus may be obtained from D.A. Davidson & Co., PO Box 5015, Great Falls, MT 59403-5015 or First Security Van Kasper, 600 Califormia Street, Suite 1700, San Francisco, CA 94108.
The $15.1 million in net proceeds from the offering will be used primarily for additional working capital, capital equipment purchases and other general corporate purposes.
With the completion of the offering, Direct Focus now has 10.3 million common shares outstanding. The company's stock began trading on Nasdaq today at which time trading on the Toronto Stock Exchange was halted. Direct Focus had been listed on the Toronto Stock Exchange (TSE: DFX) since 1993.
Direct Focus is a direct marketing company that develops and markets high-end branded consumer products. The company currently markets three lines of products-Bowflex home fitness equipment, Nautilus fitness equipment and Nautilus sleep systems - directly to customers via advertising on television, printed media and the world wide web. In January 1999, the company acquired Nautilus for $18.8 million.
A final prospectus may be obtained from D.A. Davidson & Co., PO Box 5015, Great Falls, MT 59403-5015 or First Security Van Kasper, 600 Califormia Street, Suite 1700, San Francisco, CA 94108.