Nautilus sells shares to strengthen its treasury. The home fitness equipment manufacturer has placed more than 4 million ordinary shares for 5 million dollars (4.6 million euros). The offer, which is expected to close next week, comes from an institutional investor.
The company plans to use the net proceeds from this transaction for “general corporate purposes,” as announced in a statement. Nautilus closed 2022 with losses of 105.4 million dollars (97.4 million euros), four times more than those registered in the previous year. This net result is explained by the drastic reduction in its turnover, which fell by 51%, to 286.7 million dollars (265 million euros).