EDiets announces $600,000 private placement

eDiets, Septmeber 11, said Friday it has entered into a $600,000 private placement

The investment will convert into common stock at $1.06 a share. The Fort Lauderdale-based fitness and diet company (NASDAQ: DIET) said in a news release that it will use the proceeds to fund future growth opportunities, including the expansion of advertising related to relaunching a fresh meal delivery service.

The new placement follows a similar announcement earlier this year that the company received a $500,000 private placement from members of its management and board of directors.

EDiets had been warned that its market value falls short of the $35 million minimum for the stock exchange and it would be delisted.

The company said its continued listing is subject to the condition that, on or before Dec. 29, it must regain compliance with the $35 million requirement or the alternative requirement of $2.5 million in stockholders’ equity.


About PPM

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM.co’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.

We are leaders in:

• Florida Private Placement
• Health and Food Private Placement
• Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Technology Private Placement Memorandum Writing
• Florida Private Placement Memorandum Writing
• Health and Food Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing
• Equity Private Placement Memorandum Writing