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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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Xponential Fitness, Inc. Announces Pricing of $120 Million Initial Public Offering


Share:
Xponential Fitness, Inc., a curator of leading boutique fitness brands, today announced the pricing of its initial public offering ( IPO ) of 10,000,000 shares of its Class A common stock at a public offering price of $12.00 per share. The shares are expected to begin trading on the New York Stock Exchange on July 23, 2021 under the symbol XPOF. The offering is expected to close on July 27, 2021, subject to customary closing conditions.
In addition, Xponential Fitness has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock at the initial public offering price, less the underwriting discount. ....

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