GNC Holdings, Inc., a worldwide retailer of health and wellness products, announced terms for its IPO on Tuesday. The Pittsburgh, PA-based company plans to raise $360 million by offering 22.5 million shares at a price range of $15 to $17. At the mid-point of the proposed range, GNC will command a market value of $1.7 billion. GNC, which was founded in 1935 and booked $1.8 billion in sales last year, plans to list on the NYSE under the symbol GNC. Goldman, Sachs & Co., J.P. Morgan, Deutsche Bank Securities and Morgan Stanley are the lead underwriters on the deal, which is expected to price during the week of March 28.
