Health Club Chain Life Time Group Prices US$702 Million IPO
Health club chain Life Time Group Holdings (NYSE: LTH) started trading on the New York Stock Exchange Thursday while also announcing pricing for their IPO. The firm aims to raise US$702 million in its debut on the big board.
The offering consisted of 39 million shares at US$18.00 per share, which represents the low end of the previously proposed share price range. The company’s shares will be trading on the New York-based exchange under the ticker symbol “LTH”.
Goldman Sachs & Co., Morgan Stanley, and BofA Securities are acting as the lead bookrunners for the said offering. The underwriters were given a 30-day over-allotment option to purchase up to an additional 5.85 million shares at the same IPO price.
The offering is expected to close on October 12, 2021, subject to customary closing conditions.
The health club chain has been in existence for nearly 30 years. It currently has a force of 30,000 professionals servicing customers in over 150 athletic resort destinations in the United States and Canada.
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