YogaWorks, which operates 50 yoga studios in major US metropolitan markets, announced terms for its IPO on Monday.
The Culver City, CA-based company plans to raise $65 million by offering 5 million shares at a price range of $12 to $14. At the midpoint of the proposed range, YogaWorks would command a fully diluted market value of $187 million. Insiders have indicated an interest in purchasing up to $10 million (15% of the deal) in shares on the IPO.
YogaWorks was founded in 1987 and booked $54 million in revenue for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol YOGA. Cowen & Company, Stephens Inc. and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of July 17, 2017.
