Planet Fitness Inc, known for its "judgement free zone" fitness centers and low prices, is expected to be valued at nearly $1.58 billion in its initial public offering. The company expects the offering of 13.5 million class A shares to be priced at $14-$16 per share, raising up to $216 million, it said in a regulatory filing on Monday. Planet Fitness is selling 9.1 million shares in the offering, while selling stockholders are offering the rest.
The Newington, New Hampshire-based company, which is majority owned by buyout firm TSG Consumer Partners, has more than 950 fitness centers in the United States, most of which are franchised. Founded in 1992, Planet Fitness has more than 7 million members.
Comments
Comments are closed.