GNC Sets IPO Terms

GNC has set the terms of its IPO, which is expected to include 22.5 million shares of Class A common stock priced between $15 and $17 apiece. Goldman Sachs and JP Morgan are leading the underwriting. GNC is selling 16 million of the shares, while the other 6.5 million are being sold by certain stockholders, including Ares Management and Teachers' Private Capital, which have backed the company since a 2007 LBO. GNC is a specialty retailer of health and wellness products.