Xponential Fitness, Inc., a curator of leading boutique fitness brands, has announced the pricing of its initial public offering of 10 million shares of its Class A common stock at a public offering price of US$12 per share. The shares began trading on the New York Stock Exchange on July 23, 2021 under the symbol “XPOF.” The offering is expected to close on July 27, 2021, subject to customary closing conditions. In addition, Xponential Fitness has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock at the initial public offering price, less the underwriting discount.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Ian Schuman and Stelios Saffos and Chicago associate Scott Westhoff, with New York associate Jackson Fountain. Advice was also provided on tax matters by New York partner Jocelyn Noll, with New York associate Eric Kamerman; on intellectual property matters by Century City partner Jonathan West and Bay Area partner Joe Wetzel, with Century City associate Sam Lehman; and on benefits and compensation matters by Los Angeles/Orange County partner Michelle Carpenter, with Los Angeles associate Harrison Taylor.
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