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Xponential Fitness Prices Equity Offering By Affiliates Of Its CEO & Other Shareholders At 12% Discount

Benzinga Real-time News ·  Feb 8, 2023 04:41
  • Xponential Fitness Inc (NYSE:XPOF) has priced the underwritten public offering of 5 million shares by certain of its existing stockholders, affiliates of Snapdragon Capital Partners and Anthony Geisler, at $24.50 per share.
  • Anthony Geisler is the company's founder and has served as its CEO and on board of directors since 2017.
  • The offer price represents a 12% discount to Xponential's closing price on Feb. 7.
  • In connection with the offering, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 0.75 million shares at the public offering price.
  • The offering is expected to close on Feb. 10, 2023. The company will not receive any proceeds from the offering.
  • BofA Securities and Jefferies are acting as the joint book-running managers and underwriters for the Offering, and Morgan Stanley is also acting as a joint book-running manager.
  • Price Action: XPOF shares closed lower by 10.2% at $25.00 during after-hours trading on Tuesday.
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