FTLF - US Bankruptcy Court Approves FitLife's $18.5M Acquisition Of MusclePharm | Benzinga
FitLife Brands Inc (NASDAQ: FTLF) said the U.S. Bankruptcy Court for the District of Nevada has approved its acquisition of substantially all of the assets of MusclePharm Corporation.
Sports nutrition brand MusclePharm has been generating approximately $1.2-1.5 million in monthly revenue at gross margins between 25-30% during bankruptcy.
The company plans to fund the cash purchase price of $18.5 million using cash on hand and the proceeds of a new committed $10 million term ...