MusclePharm Closes 4.1 Million Offering of Series D ConvertibleStock
The Frost Group, LLC, Headed by Miami Entrepreneur Dr. Phillip Frost, Was the Lead Investor
DENVER, CO, Jan 28, 2013 (Menafn - MARKETWIRE via COMTEX) --MusclePharm Corporation (otcqb:MSLP), a nutritional supplementcompany focused on active lifestyles, announced today it successfullycompleted two closings of a registered direct offering of its SeriesD Convertible Preferred Stock. The Frost Group, LLC, headed by Miamientrepreneur Dr. Phillip Frost, was the lead investor in the offeringincreasing his position in the Company by approximately 1.4 million.
At the closings, MusclePharm issued 511,625 shares of its Series DConvertible Preferred Stock in a registered direct placement of itsshares at a per share price of 8.00. Each share of Series DConvertible Preferred Stock is convertible into two shares of commonstock, subject to adjustment. The net proceeds to MusclePharm fromthe closings were approximately 3.5 million after deductingplacement agent fees and offering expenses.
GVC Capital LLC acted as the lead placement agent for this offering.
The shares described above were registered pursuant to a registrationstatement on Form S-1 (File No. 333-184625), which was declaredeffective by the Securities and Exchange Commission ("SEC") onJanuary 16, 2013. A prospectus relating to the offering was filedwith the SEC on January 17, 2013.
This release shall not constitute an offer to sell or thesolicitation of an offer to buy any securities of MusclePharm, norshall there be any sale of securities in any state or jurisdiction inwhich such an offer, solicitation or sale would be unlawful prior toregistration or qualification under the securities laws of any suchstate or jurisdiction. Any offer will be made only by means of aprospectus forming a part of the effective registration statement.Copies of the final prospectus can be obtained at the SEC's websiteat http://www.sec.gov or from GVC Capital LLC, 5350 S. Roslyn Street,Suite 400, Greenwood Village, CO 80111, by calling (303) 694-0862,Attn: Dick Huebner.
ABOUT MUSCLEPHARM CORPORATION
MusclePharm is a healthy lifestyle company that develops andmanufactures nutritional supplements that address active lifestyles,including muscle building, weight loss and maintaining generalfitness through a daily nutritional supplement regimen. The productsare formulated through a six-stage research process using theexpertise of leading nutritional scientists. MusclePharm's productsare sold to consumers in more than 110 countries and available inover 10,500 U.S. retail outlets, including Dick's Sporting Goods,GNC, Vitamin Shoppe and Vitamin World. MusclePharm products also aresold through more than 100 online channels globally, includingbodybuilding.com, amazon.com and vitacost.com. For more information,please visit www.musclepharm.com.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaningof Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities and Exchange Act of 1934, as amended.Statements that are not a description of historical facts constituteforward-looking statements and may often, but not always, beidentified by the use of such words as "expects", "anticipates","intends", "estimates", "plans", "potential", "possible", "probable","believes", "seeks", "may", "will", "should", "could" or the negativeof such terms or other similar expressions. Actual results may differmaterially from those set forth in this release due to the risks anduncertainties inherent in the Company's business. More detailedinformation about the Company and the risk factors that may affectthe realization of forward-looking statements is set forth in theCompany's Annual Report on Form 10-K/A for the fiscal year endedDecember 31, 2011, the Company's Quarter Reports on Form 10-Q andother filings submitted by the Company to the SEC, copies of whichmay be obtained from the SEC's website at www.sec.gov. Readers arecautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date hereof. Allforward-looking statements are qualified in their entirety by thiscautionary statement and the Company undertakes no obligation torevise or update this release to reflect events or circumstancesafter the date hereof.
MusclePharm Investor Contact:
The Del Mar Consulting Group, Inc.
Robert B. Prag
President
Telephone: 858-794-9500
Email: Email Contact
Alex Partners, LLC
Scott Wilfong
President
Telephone: 425-242-0891
Email: Email Contact
SOURCE: MusclePharm
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