One of the biggest and most favorite gym chains in Australia by the name of F45 Training Holdings could see it getting valued up to $ 2 billion in the upcoming IPO they are planning.
The Australian fitness company is an excellent provider of high intensity interval training (HIIT) options to fitness freaks.
Initial Public Offering
It plans to register for a New York stock exchange listing in then coming months.
In its public offering, the F45 chain is reported to be looking at a roughly US $ 1.5 billion valuation ($ A2 billion).
F45 revealed on Wednesday they intended to sell an estimated 20.3 million shares with prices ranging from $ 15 to $ 17 each to reach $ 345 million (A $ 460 million).
F45 Gym Chain
The gym was founded in 2013 in Australia and today has expanded to more than 1,500 outlets. It also has about 2,800 franchises in 63 different countries.
Famous Hollywood star Mark Wahlberg is known to have a special interest in the company since 2018 after taking his first class and successfully soliciting a stake in the fitness firm.
Declining A Merger
The company’s move to be listing on the stock exchange in America comes months after declining an offer to merge.
F45 agreed in June last year to merge with Crescent Acquisition, a special purpose acquisition company, but later declined and took aback the agreement as the COVID-19 pandemic shut several of its branches.
NYSE Listing
About 1.6 million shares in the IPO are sold by the owner of the promoters, the proceeds of which will not go to the company or any of its operations.
An 11 percent reduction in revenue last year was reported, with total losses rising to $ 33.7 million from a loss of $ 16.8 million in the year prior to that.
About 86 percent of the company’s total studios have been open since March 31, according to their inclusion.
The company is seeking to list on the New York Stock Exchange and will trade under the ticker symbol “FXLV.”
Goldman Sachs and JPMorgan are the lead underwriters for the offering.
