The Final Chapter for BowFlex Stockholders

For shareholders of the former Nautilus Inc., the story has reached its conclusion. The company's core brand, BowFlex, has been sold, and the focus is now solely on the final liquidation of the bankruptcy estate following the Chapter 11 filing made in March 2024.

The company's shares were delisted from the New York Stock Exchange in March 2024. Since that time, trading has continued only on the over-the-counter (OTC) market. The transfer of the BowFlex brand rights and other key assets to Johnson Health Tech was finalized in May 2024. Subsequently, the primary operating entity, BowFlex New Jersey LLC, ceased all operations in August 2024 as the liquidation process advanced.

The perspective for any investors still holding shares on the OTC markets has fundamentally changed. With the company no longer functioning as a going concern, traditional metrics like operational performance or growth strategy are entirely irrelevant. The singular question is whether any value will ultimately be returned to equity holders once the bankruptcy concludes.

Should investors sell immediately? Or is it worth buying Nautilus?

The likely answer is sobering. Under U.S. Chapter 11 proceedings, a strict legal hierarchy dictates that secured and unsecured creditors must be paid in full before any funds can be distributed to shareholders. Historical precedent in such liquidation scenarios suggests that common stockholders frequently receive little to no compensation. Consequently, any ongoing trading of these securities is considered highly speculative.

Awaiting the Formal Closure

Developments in the broader fitness industry, including new technological trends, no longer have any bearing on the fate of the BowFlex stock. All attention is fixed on the final administrative steps of the bankruptcy process.

The formal end will come once the court approves the final distribution of the remaining bankruptcy estate. This action will officially close the book on the original corporate entity. Shareholders can expect to receive communication regarding this final disposition in due course, which will mark the definitive end of the liquidation proceedings.