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GNC cancels IPO; was to have used $40 million for redeeming notes
By Ted A. Knutson
Washington, Nov. 3 - GNC Corp. canceled its planned $345 million initial public offering in a form RW filing with the Securities and Exchange Commission.
The Pittsburgh-based nutritional supplements retailer cited adverse market conditions.
In a previous SEC filing, GNC proposed using $40 million from the offering to redeem a portion of its 8½% senior subordinated notes due 2010.
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