eDiets.com offers details on $1.57 million private placement of stock

Investors include BBS Capital, Haus Capital and two company insiders

By Devika Patel

Knoxville, Tenn., Feb. 11 - eDiets.com, Inc. gave further details about a private placement of stock that priced Feb. 7 in an 8-K filed Friday with the Securities and Exchange Commission. BBS Capital Fund, LP, Haus Capital Fund, LP and company directors Kevin A. Richardson, II and Lee S. Isgur were the investors for the $1.57 million deal, which was announced on Feb. 8.

The company sold 3,811,818 common shares at $0.4125 per share. Investors also received warrants for a total of 1,905,909 shares, which are initially exercisable at $0.3535 for three years.

The strike price is a 3.97% premium to the Feb. 4 closing share price of $0.34. The price per share is a 21.32% premium to that price.

Proceeds will be used to fund the company's business.

eDiets.com, based in Deerfield Beach, Fla., provides online diet and fitness information and advice.

Issuer:	eDiets.com, Inc.
Issue:	Common stock
Amount:	$1,572,375
Shares:	3,811,818
Price:	$0.4125
Warrants:	For 1,905,909 shares
Warrant expiration:	Three years
Warrant strike price:	$0.3535
Investors:	BBS Capital Fund, LP, Haus Capital Fund, LP, Kevin A. Richardson, II and Lee S. Isgur
Announcement date:	Feb. 8
Pricing date:	Feb. 7
Stock symbol:	Nasdaq: DIET
Stock price:	$0.35 at close Feb. 7
Market capitalization:	$22.9 million

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