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Fitness Franchiser Xponential Gets $120 Million in Shrunken IPO - Article


Michael Hytha, Bloomberg News
(Bloomberg) Xponential Fitness Inc., the franchise owner of boutique fitness brands including Club Pilates and CycleBar, downsized its initial public offering and priced it below a marketed range to raise $120 million.
The Irvine, California-based company sold 10 million shares on Thursday for $12 each, according to a statement. Xponential earlier offered 13.3 million shares for $14 to $16.
Xponential delayed its listing plans when the coronavirus pandemic hit last year. Calling itself the largest boutique fitness franchiser in the U.S., it continued to grow through the pandemic, according to its filings with the U.S. Securities and Exchange Commission. As of March 31, it had 1,765 open studios, 294 more than at the end of 2019. ....

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Kayla Itsines and ex Tobi Pearce enjoyed a '50-50 split' of profits from $400m sale


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It was reported earlier this week that Istines, 30,  was the big winner from the sale because she reportedly owned a larger share of the business than co-founder Pearce, who is also her ex-fiancé.
Itsines was said to have earned US$225million (AU$300million) following the sale of Sweat to an American software giant,
By contrast, it was previously reported that 29-year-old Pearce made US$75million (AU$100million). 
Clearing it all up: On Saturday, The Australian reported that the pair actually enjoyed a 50-50 split of proceeds.  The publication also reports that Tobi has assumed full ownership of the duo s K&T Investments and he was transferred Itsines s stake for zero dollars ....

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