Xponential Fitness (XPOF) IPO Opens Lower

Today's IPO for Xponential Fitness, Inc. (NYSE: XPOF) opened for trading at $11.20 after pricing 10,000,000 shares of its Class A common stock at a public offering price of $12.00 per share.

BofA Securities, Jefferies and Morgan Stanley are acting as joint lead bookrunners for the offering. Guggenheim Securities, Citigroup and Piper Sandler are acting as bookrunners for the offering. Baird and Raymond James are acting as co-managers for the offering.

Founded in 2017 and headquartered in Irvine, California, Xponential Fitness, Inc. is a curator of leading boutique fitness brands across multiple verticals. Through its mission to make boutique fitness accessible to everyone, the Company has built and curated a diversified platform of nine boutique fitness brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running and yoga. In partnership with its franchisees, Xponential Fitness offers energetic, accessible, and personalized workout experiences led by highly-qualified instructors in studio locations across 48 U.S. states and 10 additional countries as of June 30, 2021. Xponential Fitness' portfolio of brands includes Club Pilates, the nation's largest Pilates brand; CycleBar, the nation's largest indoor cycling brand; StretchLab, a concept offering one-on-one and group stretching services; Row House, a high-energy, low-impact indoor rowing workout; AKT, a dance-based cardio workout combining toning, interval and circuit training; YogaSix, the largest franchised yoga brand; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements; STRIDE, a treadmill-based cardio and strength training concept; and Rumble, a boxing-inspired full-body workout.

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