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Summary
- F45 made its debut on the stock market on July 15, 2021.
- The stock closed at US$16.20, that is 1.25% higher than its offer price.
- The company raised US$325 million through its IPO.
- Adam Gilchrist and Mark Wahlberg move up the net worth charts as the company lists at a market cap of US$1.6 billion.
F45 Training Holdings Inc, a global fitness company, rolled out its initial public offering (IPO) yesterday on the New York Stock Exchange (NYSE) at a market value of US$1.6 billion. The company listed its shares for trading under the ticker symbol ‘FXLV’ at an offer price of US$16 per share.
The company opened for public with 20,312,500 shares of its common stock, of which 18,750,000 of which were offered by the company, while 1,562,500 were offered by the selling stockholders.
The first day was quite eventful for the shareholders as the shares opened at US$17, only to experience a fall to day’s low at US$15.50. However, the stock closed at US$16.20, that is 1.25% higher than its offer price and F45 managed to successfully raise US$325 million.
Know it before you invest in it!
“Investing without research is like playing stud poker and never looking at the cards.” - Peter Lynch
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Also read: Timeless investing lessons from Peter Lynch
It goes without saying that good investing calls for gathering and assimilating the right information. It’s always better to have a well-calculated move in the money world if one wishes to be successful in the long run. Here are some facts and figures related to the Company to help you to understand the business better.
- F45 started its journey in 2013 in Australia to give way to its concept of functional 45-minute workouts and fitness trainings to help people achieve health objectives.
- The company has more than 1,400 studios and 2,200 franchises functional across more than 60 countries.
- Headquartered in Austin, Texas, F45 has a database of over 3,900 training exercises.
F45’s principal stockholders include Adam Gilchrist, Co-Founder, President and Chief Executive Officer; MWIG, a special purpose private investment fund vehicle led by FOD Capital LLC, a family office investment fund, and Mark Wahlberg, which acquired a minority investment in the company in March 2019 through an acquisition F45’s convertible preferred stock; entities affiliated with KLIM; funds affiliated with L1 Capital; and Mark Wahlberg, who holds 1,396,324 restricted stock units, as per the data available with the United States Securities and Exchange Commission (SEC).
F45’s entry into trading amid pandemic
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The outbreak of COVID-19 pandemic has brought in uncertain times for all kinds of industries, especially health and fitness. On the one hand, the deadly infection has made people more conscious about their health, while on the other, lockdown and movement restrictions imposed due to the virus have kept people away from gyms and fitness centres. Perhaps this was the reason that hindered F45’s move in the stock market.
Image Source: © Bberry | Megapixl.com
The company had previously proposed to begin trading in 2020; however, the decision was put on hold due to the unprecedented pandemic situation. But now, when the company has finally entered the market, it would be interesting to see its performance on the trading charts.
Also read: How covid is changing our fitness habits
