F45 Training Holdings, a global fitness franchise offering 45-minute workouts, raised $325 million by offering 20.3 million shares (8% secondary) at $16, the midpoint of the $15 to $17 range.
Backed by actor Mark Wahlberg, F45 Training's boutique studios offer high-intensity interval, circuit, and functional training exercises. As of June 30, 2021, the company had sold 2,801 studio franchises in 63 countries; of the 1,555 built studios, 91% (1,415) had re-opened following temporary closures during the pandemic.
F45 Training plans to list on the NYSE under the symbol FXLV. Goldman Sachs, and J.P. Morgan acted as joint bookrunners on the deal.
