WASHINGTON (dpa-AFX) - Blyth, Inc. (BTH) said Thursday that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering of its Class A common stock.
The registration statement has been filed by FVA Ventures, Inc., which will be renamed ViSalus, Inc. in connection with the IPO.
ViSalus is a direct-to-consumer, personal health product company offering a suite of branded weight-management products, nutritional supplements and energy drinks to customers in the United States and Canada through a network marketing model, which is a form of direct selling.
Blyth said it will continue to own over 50% of ViSalus' common stock following the IPO. The number of shares to be offered and the price range for the offering have not yet been determined.
A portion of the shares to be offered in the IPO will be and sold by ViSalus, and a portion will be sold by certain shareholders of ViSalus.
Blyth shares are currently trading at $43.50, up $6.41 or 17.28%.
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