Wednesday's Small-Cap Winners & Losers

Bally Total Fitness(BFT Quote) surged 53 cents, or 31.7%, to $2.20 after the fitness-center operator said lenders have agreed to loan the company a total of $280 million.

National Beverage(FIZ Quote) gained after the company was upgraded by Matrix Research to hold from sell. Shares were trading up 70 cents, or 6.2%, to $11.94.

Banta(BN Quote) rose after the printing company received a revised merger proposal from Cenveo(CVO Quote). Banta had rejected an earlier unsolicited offer of $47 a share, but Cenveo increased the acquisition price to $50. Shares of Banta were trading up $1.40, or nearly 3%, to $48.30. Cenveo was up 31 cents, or 1.7%, to $18.88.

inVentiv Health(VTIV Quote) sank after the company, which provides commercialization services to the pharmaceutical and life sciences industries, was downgraded by Jefferies to hold from buy. Shares fell $3.60, or 11.6%, to $27.51.