Here is the news release
Bally Total Fitness Files Registration Statement for 2.5 Million
New Shares
PR Newswire - March 19, 1998 15:11
BFIT %HEA V%PRN P%PRN
CHICAGO, March 19 /PRNewswire/ -- Bally Total Fitness Corporation
(Nasdaq-NNM: BFIT) announced today that it has filed a registration statement
with the Securities and Exchange Commission to offer 2.5 million new shares of
common stock. The proceeds of this offering will be used to fund the
development of growth opportunities consisting primarily of the development of
new clubs, the selective acquisition of club-related real estate, and the
acquisition of strategically located fitness centers.
All of the shares to be offered pursuant to this filing are primary
shares. No Bally Total Fitness executives or board members will be selling
shares of stock in this offering.
In addition, Bally Total Fitness has applied for listing of its common
stock on the New York Stock Exchange under the symbol "BFT."
Bally Total Fitness is the largest, and only nationwide, commercial
operator of fitness centers in the United States, with approximately four
million members and 320 facilities in 27 states and Canada.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
SOURCE Bally Total Fitness Corporation
/CONTACT: Dave Southern, Vice President, Public & Investor Relations of
Bally Total Fitness, 773-399-7611/
/Web site: www.mwwpr.com/
(BFIT) |
