Life Time Group Holdings, Inc. (NYSE: LTH) has announced the pricing of the previously announced underwritten public offering of 12 million shares of the company’s common stock held by the company and certain of its existing stockholders (the Selling Stockholders) at a price to the public of US$21.75 per share. The underwriters in the offering will have a 30-day option to purchase up to an additional 1.8 million shares of common stock from the Selling Stockholders. The offering is expected to close on August 14, 2024, subject to customary closing conditions. Life Time intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of indebtedness. The company will not receive any of the proceeds from the sale of shares of the company’s common stock by the Selling Stockholders.
Latham & Watkins LLP represents Life Time in the offering with a capital markets team led by New York/Washington, D.C. partner Jason Licht and counsel Jessica Lennon, with associate Thalia Garcia. Advice was provided on tax matters by Chicago partners Joseph Kronsnoble and Rene de Vera; and on corporate matters by New York partner John Giouroukakis.
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