Applied Nutrition (LSE:APN), the sports nutrition and wellness brand, confirmed that founders Thomas Ryder and Steven Granite sold 7m shares at 275p each, raising approximately £19.25m.
The shares represent roughly 2.80% of the company's issued share capital.
It marks the first sale of shares by either founder since Applied Nutrition listed in October 2024, and the company said the move diversifies their asset base.
Ryder remains the company's largest shareholder after the sale, holding 81.16m shares, equivalent to 32.46% of issued share capital.
Both sellers have agreed not to dispose of further shares for 180 days, subject to exceptions and a waiver from Panmure Liberum, which acted as sole bookrunner.
Applied Nutrition is not party to the placing and will receive none of the proceeds.
The trade completed on 11 September, with settlement expected on 15 September.
News Intelligence what this means for the company
Founders Thomas Ryder and Steven Granite sold 7m shares (2.80% of the company) at 275p for £19.25m on 11 September—the first insider disposal since the October 2024 IPO. The sale is modest relative to Ryder's remaining 32.46% stake and the company's £15.9m net cash position; it signals founder diversification rather than distress, and both have committed to a 180-day lock-up.
The sale does not materially alter Applied Nutrition's capital structure or growth trajectory. Ryder remains the dominant shareholder, the company retains full cash resources for the Nutrablend integration and FY27 guidance, and the lock-up agreement limits near-term further dilution.
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