Weight Watchers International has announced that it plans a secondary offering of 10,000,000 shares of common stock.
The offering will consist solely of shares beneficially owned by Artal Group S.A. (Artal). Artal has granted the underwriters for the offering an option to purchase an additional 1,500,000 shares of common stock to cover over-allotments, if any.
After completion of the offering, Artal will continue to hold approximately a 54.0% ownership interest (or a 52.5% ownership interest if the over-allotment option is exercised in full) in Weight Watchers International, Inc. Weight Watchers International, Inc. will not receive any of the proceeds from the offering.
Credit Suisse and UBS Investment Bank are acting as joint book-runners and Bank of America Securities LLC, Citigroup Global Markets, Goldman, Sachs & Co, JP Morgan Securities, Merrill Lynch & Co and Morgan Stanley & Co are acting as co-managers.