US Bankruptcy Court Approves FitLife's $18.5M Acquisition Of MusclePharm
Portfolio Pulse from Shivani Kumaresan
FitLife Brands Inc (NASDAQ:FTLF) has received approval from the U.S. Bankruptcy Court for the District of Nevada for its acquisition of MusclePharm Corporation's assets. The $18.5 million deal will be funded through cash on hand and a new $10 million term loan. FitLife plans to return the brand to growth and enhance profitability through a focus on online sales and expanded wholesale distribution. The transaction is expected to close by October 16, 2023.
September 28, 2023 | 11:07 am
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POSITIVE IMPACT
FitLife's acquisition of MusclePharm's assets is expected to be highly accretive to existing shareholders. The company plans to enhance profitability through a focus on online sales and expanded wholesale distribution.
The acquisition of MusclePharm's assets by FitLife is expected to be highly accretive to existing shareholders, indicating a potential increase in the value of FTLF shares. The company's plan to enhance profitability through a focus on online sales and expanded wholesale distribution could also positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100