GNC closes IPO
PITTSBURGH — GNC Holdings on Wednesday announced the closing of its initial public offering of 25.9 million shares of its Class A common stock at a public offering price of $16 per share. GNC's Class A common stock began trading Friday, April 1, on the New York Stock Exchange under the ticker symbol "GNC."
Of the shares offered, 16 million were issued and sold by the company, and 9.9 million shares were sold by selling stockholders. The shares sold by the selling stockholders included 3.4 million shares sold pursuant to the underwriters' option to purchase additional shares.
As of early morning trading on Thursday, GNC shares were selling for $17.73.