Why GNC Holdings, Inc. Plunged 18.4% in November
Shares of GNC Holdings Inc. (NYSE: GNC) fell 18.4% in November, according to data from S&P Global Market Intelligence, after the specialty retailer of health and nutrition supplements proposed a senior notes debt offering, a new senior secured term loan, and a new revolving credit facility. GNC stated at the time that it would use the funds primarily to repay its existing credit facility, as well as for general corporate purposes.
Incidentally, on Monday (Dec. 4, 2017), GNC followed up by withdrawing its proposed offering, opting instead to retain Goldman Sachs to help review strategic alternatives to both optimize its capital structure and create shareholder value.
IMAGE SOURCE: GNC.
Source: Fool.com
