Life Time Group Holdings, a premium US health and fitness chain, raised $702 million by offering 39 million shares at $18, the low end of the range of $18 to $21. The company originally planned to offer 46 million but sold 16% fewer shares than anticipated.
Life Time offers premium health, fitness, and wellness experiences through an omni-channel physical and digital ecosystem that includes more than 150 locations across 29 US states and one province in Canada.
The Chanhassen, MN-based company was founded in 1992 and booked $1.0 billion in revenue for the 12 months ended June 30, 2021.
Life Time Group Holdings plans to list on the NYSE under the symbol LTH. Goldman Sachs, Morgan Stanley, BofA Securities, Deutsche Bank, J.P. Morgan, Wells Fargo Securities, BMO Capital Markets, Mizuho Investors, and RBC Capital Markets acted as joint bookrunners on the deal.
