F45 Training Holdings Inc (FXLV) Prices 20.3M Share IPO at $16/sh

F45 Training Holdings Inc. (NYSE: FXLV) announced today the pricing of its initial public offering of 20,312,500 shares of its common stock, 18,750,000 of which are being offered by the Company and 1,562,500 of which are being offered by the selling stockholder named in the prospectus, at a price of $16.00 per share (before underwriting discounts and commissions). The Company and the selling stockholder have granted the underwriters a 30 day option to purchase up to an additional 3,046,875 shares of common stock. The shares will begin trading tomorrow on the New York Stock Exchange under the symbol “FXLV” and the offering is expected to close on July 19, 2021.

The Company intends to use the net proceeds from the offering to repay indebtedness, to pay the purchase price for the Company’s acquisition of certain assets of the Flywheel indoor cycling studio business, to pay cash bonuses to certain employees, to pay expenses incurred in connection with the offering and for working capital and general corporate purposes.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint leading book-running managers and representatives of the underwriters for the offering. Robert W. Baird & Co. Incorporated, Cowen and Company, LLC, Guggenheim Securities, LLC, Macquarie Capital (USA) Inc., MUFG Securities Americas Inc. and Roth Capital Partners are acting as co-managers for the offering.

The offering of these securities will be made only by means of a prospectus. Copies of the final prospectus relating to the offering can be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by email at [email protected], or by telephone at (866) 471-2526; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected].

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 14, 2021. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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