MotherNature.com shuts down

Summary:Less than a year after its IPO, the struggling vitamin seller announces plans to liquidate.

Struggling vitamin seller MotherNature.com Inc. said its board unanimously voted to liquidate and dissolve the company due to its lack of prospects "to be financed as a going concern."

MotherNature.com said it will hold a special shareholders meeting on Nov. 30 to consider the plan. The company anticipates that it will have about $15.8 million, or $1 a share, in assets to distribute to shareholders.

MotherNature.com received its first venture capital investment in June 1998 and went public in December 1999. The stock peaked at $14.56 in December and closed at 63 cents Tuesday on the Nasdaq Stock Market ahead of the announcement.

MotherNature.com said it plans to sell certain of its assets, including intellectual property, other tangible and intangible assets, as part of the liquidation. It also will wind down its online-retail operations.

MotherNature.com said it believes the move is in the best interests of the company and its shareholders.

Topics: Start-Ups, Patents

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