MINDBODY (MB) IPO Price at $14, Middle of Expected Range

MINDBODY, Inc. (Nasdaq: MB) announced the pricing of its initial public offering of 7,150,000 shares of its Class A common stock at a price to the public of $14 per share, the middle of the expected $13-$15 range. The shares are expected to begin trading on the NASDAQ Global Market today under the symbol "MB."

In addition, MINDBODY has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of Class A common stock to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market on June 19, 2015 under the symbol "MB."

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., and JMP Securities LLC are acting as co-managers for the offering.

MINDBODY is the leading online wellness services marketplace with over 42,000 local business subscribers on our platform in 124 countries and territories employing over 250,000 practitioners who provide a variety of wellness services to over 24 million active consumers.

Financial summary: "Our total revenue increased from $32.0 million in 2012, to $48.7 million in 2013 to $70.0 million in 2014, representing year-over-year increases of 52% and 44% in 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our revenue was $15.7 million and $22.3 million, respectively, representing a 42% growth rate. Our net loss was $5.5 million, $16.2 million and $24.6 million for 2012, 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our net loss was $4.8 million and $7.9 million, respectively. Our Adjusted EBITDA was negative $2.5 million, negative $11.5 million and negative $18.8 million for 2012, 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our Adjusted EBITDA was negative $3.8 million and negative $5.3 million, respectively."

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