HealthSport, Inc., the developer of the edible Enlyten SportStrips nutritional supplements system, raised approximately $3 million through a private placement of its shares of common stock. Investors in the financing include former NFL stars Bruce Smith, Bernie Kosar and Jim Kelly.
Under the terms of the placement, HealthSport sold approximately 2 million shares of common stock at a fixed price of $1.50.
Enlyten SportStrips replace the electrolytes the body loses while exercising through buccal (cheek to gum) absorption. The company said this mode of absorption is very different than all electrolyte delivery predecessors. Gastric absorption is bypassed and the electrolytes needed are directly absorbed into the body.Additionally, this will help to avoid the over-hydration that often accompanies the excessive consumption of sports drinks.
Healthsport has recently announced that women's soccer legend and two-time Olympic Medalist Brandi Chastain, as well as Jason Taylor, the Miami Dolphins Defensive End and the Associated Press NFL Defensive Player of the Year, have become spokespersons for Enlyten Sportstrips. Additionally, HealthSport signed a multi-year deal with the NFL Buffalo Bills, whose players will be integrating the Enlyten Sportstrips into their training programs, and will leverage the Bills' own brand to generate national awareness for Enlyten's electrolyte delivery technology.
Commenting on the announcement, Bruce Smith, an eleven-time all pro defensive lineman for the Buffalo Bills, commented, “Since retiring from the NFL, I have had to work hard to stay in shape and stay healthy. Enlyten SportStrips have been a great addition to my daily workout. You can have the strongest workout ethic known to man — but if you don't keep yourself hydrated and your electrolytes replenished, you will not maximize your body's strength and endurance. Enlyten SportStrips are easy to use and replenish electrolytes quickly — that is an advantage to any athlete. I am truly excited to be part of this venture.”
Bernie Kosar, former star quarterback for the Cleveland Browns, stated, “When I first learned of the opportunity to invest in HealthSport, I could see that this Company had a vision of where it wanted to go and how to get there. This was an opportunity I could not pass up and I am very proud to be part of HealthSport. With the launch of its first product, the Enlyten SportStrips, athletes will be able to easily and effectively replenish themselves without the risk of over-hydration. I give them to my kids during their games — they taste great, the kids love them and they have no sugar. As a parent, that's important to me.”
Jim Kelly, a five-time all pro and star quarterback of the Buffalo Bills and a spokesman for HealthSport, commented, “I am very proud to be a part of the Enlyten Team. The Enlyten SportStrips are a very valuable tool for any athlete, and I am excited to be an investor and to promote this product and all of its benefits. Enlyten SportStrips prevent cramping and fatigue without having to over-hydrate with fluids. I wish these strips had been available when I played in the NFL, especially during training camp. Even now, when playing basketball or working out, I can really feel the difference. This may be the best investment I will ever make.”
HealthSport President, Daniel Kelly, commented, “We appreciate the confidence that these three NFL icons have put in HealthSport and our revolutionary product, Enlyten SportStrips. We are receiving substantial interest from wholesale and retail outlets for our edible strip product line and anticipate a steady growth in market penetration throughout 2007.”
