NEWINGTON, N.H., Aug. 6, 2015 (GLOBE NEWSWIRE) -- Planet Fitness (NYSE:PLNT) (the "Company"), today announced the pricing of its initial public offering of 13,500,000 shares of its Class A common stock at a public offering price of $16.00 per share. The shares are expected to begin trading on the New York Stock Exchange on August 6, 2015 under the ticker symbol "PLNT." In addition, the Company and certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares of the Company's Class A common stock at the initial public offering price, less underwriting discounts and commissions.
The closing for the offering is expected to occur on August 11, 2015, subject to the satisfaction of customary closing conditions.
J.P. Morgan, BofA Merrill Lynch, Jefferies and Credit Suisse are acting as active book-running managers of the proposed offering. Guggenheim Securities, Robert W. Baird, William Blair and Piper Jaffray are acting as junior book-running managers. Cowen & Company is acting as a co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 5, 2015. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.
The proposed offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at (866) 803-9204; or BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by emailing Prospectus_Department@Jefferies.com, or by calling (877) 547-6340.
About Planet Fitness
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of March 31, 2015, Planet Fitness had more than 7.1 million members and 976 stores in 47 states, Puerto Rico and Canada. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®.
CONTACT: Investor Contact:
Brendon Frey, ICR
brendon.frey@icrinc.com
203-682-8200
Media Contacts:
Jessica Liddell, ICR
jessica.liddell@icrinc.com
203-682-8200
McCall Gosselin, Planet Fitness
mccall.gosselin@pfhq.com
603-494-3507
