MEDWAY, MA -- Earlier this month, Cybex International Inc. filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 3.5 million shares of its common stock. Of the total shares expected to be offered, 1.75 million shares would be issued by the company and 1.75 million shares would be offered by selling stockholders including Cybex Chairman and CEO John Aglialoro, UM Holdings Ltd. President Joan Carter, and UM Holding Ltd. and its principal stockholders. Cybex would not receive any proceeds from the shares offered by the selling stockholders.
Aglialoro said that the offering would provide capital to fund the company’s growth initiatives, which include developing new products for specific market segments and expanding Cybex’s manufacturing capacity. The capital would also go towards paying down the company’s indebtedness.