DJ Town Sports International Up 15% After Flywheel Deal >CLUB
By Michael Dabaie
Town Sports International Holdings Inc. (CLUB) shares were up 15% to $2.80 in heavier-than-average volume Tuesday morning.
The owner and operator of fitness clubs said after the market close on Monday it would acquire the studio business of indoor cycling company Flywheel Sports Inc. The deal is expected to close in the first quarter.
As part of the acquisition, Kennedy Lewis Investment Management, Flywheel's current owner, agreed to provide seller financing of $25 million in the form of a second lien loan. Kennedy Lewis also agreed to assist with the refinancing of Town Sports' existing term loan, with a follow-on commitment of up to $25 million of additional second lien debt.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 07, 2020 10:30 ET (15:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
DJ镇体育国际在飞轮交易后上涨15%
迈克尔·达比(Michael Dabaie)
城镇体育国际控股公司(俱乐部)股价周二上午上涨15%，至2.80美元，成交量高于平均水平.
健身俱乐部的所有者和经营者在周一市场收盘后表示，将收购室内自行车公司Fly轮体育公司的工作室业务。这笔交易预计将在第一季度完成。
作为此次收购的一部分，飞轮目前的所有者肯尼迪·刘易斯投资管理公司(Kennedy Lewis Investment Management)同意以第二次留置权贷款的形式向卖方提供2500万美元的融资。肯尼迪刘易斯也同意协助再融资的城镇体育现有的定期贷款，后续承诺高达2，500万美元的额外第二留置权债务。
电子邮件：michael.dabaie@wsj.com
(完)道琼斯通讯社
2020年1月7日10：30(格林尼治时间15：30)
版权(C)2020 DowJones&Company，Inc.
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