Xponential Fitness, Inc. Announces Underwriters Exercise of Option to Purchase Additional Shares
August 24 2021 - 9:00AM
Business Wire
Xponential Fitness, Inc. (NYSE: XPOF), a curator of leading
boutique fitness brands, today announced that the underwriters of
its previously completed initial public offering of Class A common
stock have exercised in part their option to purchase additional
shares, electing to purchase 904,000 shares resulting in net
proceeds to the Company of approximately $10.1 million, after
deducting underwriting discounts and commissions. Xponential
intends to use $9.0 million of such net proceeds to purchase
750,000 LLC Units from the Company’s Chief Executive Officer and
the remaining proceeds for working capital.
The shares of Class A common stock are expected to be delivered
on or about August 24, 2021, subject to customary closing
conditions.
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.
A registration statement relating to the shares being sold in
this offering was filed with the Securities and Exchange Commission
and became effective on July 22, 2021. The offering of these
securities is being made only by means of a prospectus. Copies of
the prospectus related to the offering may be obtained from: BofA
Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte, NC 28255, email:
dg.prospectus_requests@bofa.com; Jefferies LLC, Attn: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, telephone: (877) 821-7388, email:
Prospectus_Department@Jefferies.com; or Morgan Stanley & Co.
LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, 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.
About Xponential Fitness, Inc.
Founded in 2017 and headquartered in Irvine, California,
Xponential Fitness, Inc. (NYSE: XPOF) 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 through master franchise or
international expansion agreements in 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.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on current expectations, estimates, forecasts and projections
of future performance based on management's judgment, beliefs,
current trends, and anticipated financial performance. These
forward-looking statements include, without limitation, statements
relating to the exercise of underwriters’ option to purchase
additional shares and the use of proceeds. Forward-looking
statements involve risks and uncertainties that may cause actual
results to differ materially from those contained in the
forward-looking statements. These factors include, but are not
limited to, the impact of COVID-19 pandemic on our business and
franchisees; difficulties and challenges in opening studios by
franchisees; the ability of franchisees to generate sufficient
revenues; risks relating to expansion into international market;
and loss or reputation and brand awareness; and other risks as
described in the filings of Xponential with the Securities and
Exchange Commission. Other unknown or unpredictable factors or
underlying assumptions subsequently proving to be incorrect could
cause actual results to differ materially from those in the
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, level of activity,
performance, or achievements. You should not place undue reliance
on these forward-looking statements. All information provided in
this press release is as of today's date, unless otherwise stated,
and Xponential undertakes no duty to update such information,
except as required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210824005325/en/
Kimberly Esterkin Addo Investor Relations
investor@xponential.com (310) 829-5400
Xponential Fitness (NYSE:XPOF)
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