Direct Focus Inc., a Vancouver-based fitness product direct marketer, has filed today with the Securities and Exchange Commission to sell 1 million shares of its common stock in a public offering, with the company offering 825,000 shares and selling shareholders the remaining 175,000.
Net proceeds will be used for working capital, capital equipment purchases and other general corporate purposes. D.A. Davidson is the underwriter for the offering and has an over-allotment option on 150,000 additional shares.
The company has also applied to the NASDAQ to trade its shares on that system.
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