GNC Planning $350M IPO

PITTSBURGHGNC Holdings Inc., the holding company for nutrition retail behemoth General Nutrition Centers (GNC), announced plans for an initial public offering (IPO) of Class A Shares, with the goal of raising an estimated $350 million, it was reported. The company will use proceeds for working capital and general corporate purposes. In its report, The Wall Street Journal (WSJ) noted GNC will offer to exchange all outstanding Series A preferred stock for shares of Class A and/or Class B common shares.

WSJ noted in 2006, market conditions forced GNC to withdraw a planned IPO.