8 Things to Know About Life Time's Upcoming $4.1 Billion IPO

Life Time (NYSE: LTH), a chain of fitness clubs and coworking centers, is due to debut next week. Here are 7 key things to know about the upcoming IPO.

1) LTH IPO Date - Life Time is due to go public on October 07. Life Time will start trading under the ticker symbol “LTH” on the New York Stock Exchange (NYSE). Typically, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2) LTH IPO Pricing - Life Time priced its shares between $18.00 and $21.00.

3) Shares Offered - Life Time is seeking to sell 46,200,000 shares of its common stock. The S-1 filing shows the number of outstanding shares after the IPO offering would be 198,118,580.

4) LTH IPO Valuation - Life Time is seeking a valuation of between $3.56 billion and $4.16 billion.

5) LTH IPO Raised Proceeds: Life Time is looking to raise between $831.6 million and $970 million. The company plans to use the raised proceeds to repay loans, cover offering fees and expenses, as well as for general business purposes.

6) LTH IPO Underwriters - Goldman Sachs, Morgan Stanley, and BofA are leading underwriters for the IPO. Deutsche Bank, JPMorgan, Wells Fargo, BMO Capital Markets, Mizuho, RBC Capital, and others are also taking part in the offering.

7) LTH Financials - Prior to the pandemic, the company generated $1.9 billion of revenue, $30 million in net income and $438 million in Adjusted EBITDA. In 2020, revenues came in at $900 million. For the first six months of this year, Life Time generated $600 million $229 million in net loss and $(15) million in Adjusted EBITDA.

7) LTH Ownership - The S-1 filing shows LGP investors will own 27% of shares after the IPO, followed by TPG investors (20.2%), MSD investors (5.8%), LNK investors (4.6%), and LifeCo (4.2%). Founder Bahram Akradi will own 10.4% of the company.

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