Oprah acquires 10 percent of Weight Watchers, stock soars, Billionaire media mogul Oprah Winfrey has acquired a 10% pale in Weight Watchers International, sending the dieting company's banal aerial Monday.
Winfrey, who is aswell accepting options to access an added 5% stake, is abutting the Weight Watchers lath afterwards a absolute claimed acquaintance with the company's weight-loss program.
Weight Watchers (WTW) accordingly appear an amplification of its cast above a authentic focus on weight accident to a accepted accent on healthier, happier living.
Investors flocked to Weight Watchers shares in the deathwatch of the news, sending the banal up 53% in pre-market trading to $10.36 on Monday morning. Winfrey bought her shares at $6.79 for a absolute investment of $43.2 million, according to a Securities and Exchange Commission filing.
The beginning allotment amount may reflect the adeptness of Winfrey's cast in active absorption in health-related articles and programs as abundant as it reflects her bet on the company's antecedent banking prospects.
"Weight Watchers has accustomed me the accoutrement to activate to accomplish the abiding about-face that I and so abounding of us who are disturbing with weight accept longed for," Winfrey said in a statement. "I accept in the affairs so abundant I absitively to advance in the aggregation and accomplice in its evolution."
In accession to her role as a lath member, Winfrey, who has continued apparent an absorption in bloom issues and dieting programs, will serve as an adviser to the company.
"Through our conversations, it became bright that there is amazing alignment amid Oprah's ambition and our mission," Weight Watchers CEO Jim Chambers said in a statement. We accept that her arresting adeptness to affix and affect humans to apprehend their abounding abeyant is abnormally commutual to our able community, amazing coaches and accurate approach."
Winfrey's accord includes the advantage to buy an added 5% of the aggregation for $6.97 per share.
She can't advertise any Weight Watchers banal for the aboriginal two years, according to accord agreement filed with the SEC. She can advertise up to 15% in the third year of her investment, up to 30% in the fourth year and up to 60% in the fifth year.
In 5 years she would accept the appropriate to advertise all of her shares.
Weight Watchers (WTW) accordingly appear an amplification of its cast above a authentic focus on weight accident to a accepted accent on healthier, happier living.
Investors flocked to Weight Watchers shares in the deathwatch of the news, sending the banal up 53% in pre-market trading to $10.36 on Monday morning. Winfrey bought her shares at $6.79 for a absolute investment of $43.2 million, according to a Securities and Exchange Commission filing.
The beginning allotment amount may reflect the adeptness of Winfrey's cast in active absorption in health-related articles and programs as abundant as it reflects her bet on the company's antecedent banking prospects.
"Weight Watchers has accustomed me the accoutrement to activate to accomplish the abiding about-face that I and so abounding of us who are disturbing with weight accept longed for," Winfrey said in a statement. "I accept in the affairs so abundant I absitively to advance in the aggregation and accomplice in its evolution."
In accession to her role as a lath member, Winfrey, who has continued apparent an absorption in bloom issues and dieting programs, will serve as an adviser to the company.
"Through our conversations, it became bright that there is amazing alignment amid Oprah's ambition and our mission," Weight Watchers CEO Jim Chambers said in a statement. We accept that her arresting adeptness to affix and affect humans to apprehend their abounding abeyant is abnormally commutual to our able community, amazing coaches and accurate approach."
Winfrey's accord includes the advantage to buy an added 5% of the aggregation for $6.97 per share.
She can't advertise any Weight Watchers banal for the aboriginal two years, according to accord agreement filed with the SEC. She can advertise up to 15% in the third year of her investment, up to 30% in the fourth year and up to 60% in the fifth year.
In 5 years she would accept the appropriate to advertise all of her shares.
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