Nautilus, Inc. completed the acquisition of VAY AG.
Nautilus, Inc. (NYSE:NLS) completed the acquisition of VAY AG on September 17, 2021. The consideration is financed from cash on hand. Nautilus also acquired $0.23 million cash of VAY. Nautilus, Inc. granted an aggregate of 387,243 inducement restricted stock units and 387,243 inducement performance units. The contingent consideration arrangement of $3.9 million will be paid to the former owners of VAY upon achievement of milestones and recognized as compensatory expense over the service period. The restricted stock units and performance unit awards were approved by the Compensation Committee of the Board of Directors of Nautilus and were granted under the Inducement Stock Plan.