Gaiam Inc., the Louisville wellness company, said it's selling its yoga brand for consumers for $167 million.
Gaiam is selling ts branded consumer product business to Sequential Brands Group Inc. for $167 million in cash.
Last week, Gaiam sold its 51 percent interest in Boulder eco-travel firm Natural Habitat Inc. for $12.85 million to Lindblad Expeditions Holdings Inc. of New York.
Gaiam said it will use the nearly $180 million in proceeds from both the sales to buy up to $90 million and up to 12 million shares of its Class A common stock and vested stock options.
"The remaining proceeds will be used to fund the continuing growth and development of the company's subscription-based streaming media business known as Gaia," the company said in a statement, adding that it will change its name officially from Gaiam Inc. to Gaia Inc., but it will retain its "GAIA" stock symbol on the Nasdaq exchange.
Read the full report in the Denver Business Journal: http://bit.ly/1USR8tH.
