eDiets.com, Inc., a provider of personalized nutrition, fitness and weight-loss programs, recently announced that the company has entered into a $600,000 private placement with certain management members and the board of directors. The investment will immediately convert into common stock at $1.06 per share. As a leading provider of convenient at-home diet, fitness and healthy lifestyle solutions, eDiets.com will use the proceeds to fund future growth opportunities, including the expansion of advertising related to fresh meal delivery relaunch.
eDiets.com provides a broad range of customized wellness and weight management solutions for Fortune 500 clients. The company’s unique infrastructure offers businesses and individuals an end-to-end solution strategically tailored to meet its customers’ specific goals of achieving a healthy lifestyle.
Kevin McGrath, the president and chief executive officer of eDiets.com, stated, “We continue to make meaningful progress on improving our overall operating performance and improving our cash flow.” He concluded, “I am confident that our strategic plan and promotional initiatives have positioned our business for long-term profitable growth.”