Congratulations to the ViSalus Founders, that is “All In” ! Ted Nuyten
ViSalus, Inc, the weight-loss and fitness company known for its mission of Challenging the World… 10 lbs. at a Time through the PROJECT 10TM Challenge, a personal health and lifestyle transformation platform, announced today that its Co-Founders and key stockholders have reached an agreement in principle to complete a transaction with Blyth, Inc. (NYSE: BTH) in which all shares of ViSalus redeemable convertible preferred stock will be exchanged for ViSalus common stock.
ViSalus’ Founders’, employees’ and early stockholders’ ownership of ViSalus will increase to 90%.
Blyth will continue to be an equity holder, retaining 10% of ViSalus common stock. The transaction will also eliminate ViSalus’ obligation to redeem approximately $143 million of its preferred stock, most of which is owed to the company’s three Co-Founders, as well as Blyth’s guarantee of that obligation.
“The Co-Founders and I are very excited to go ‘all in’ on a business that we started and the future prospects of which we believe in wholeheartedly.
I am also personally grateful to the Goergens and to Blyth for nearly 10 years of mentoring and support,” stated Ryan Blair, ViSalus Co-Founder and CEO.
ViSalus Co-Founder and Global Ambassador Nick Sarnicola, and ViSalus Co-Founder