Bowflex Inc. announced that as previously disclosed, on March 4, 2024, the Company entered into a ?stalking horse? asset purchase agreement with Johnson Health Tech Retail Inc. to sell the assets of the Company (Acquired Assets) identified in the Asset Purchase Agreement. The company announced that on April 22, 2024, the Asset Sale closed (Closing).

Effective immediately following the Closing, the following members of the Board of Directors of the Company resigned as members of the Board: James Barr, IV, Patricia M. Ross, Kelley Hall, and Shailesh Prakash. Anne G. Saunders and Ruby Sharma will remain directors of the Company following the Closing. Becky L. Alseth, the Chief Marketing Officer of the Company, separated service with the Company, effective immediately following the Closing, and John R. Goelz, the Chief Operating Officer of the Company, will separate service with the Company, effective as of May 3, 2024.

Effective immediately following the Closing, Robert D. Hoge, the Company?s existing Director, Intellectual Property Counsel, has been appointed as the General Counsel and Chief Wind-Down Officer (?CWDO?) of the Company.