The Planet Fitness IPO is on its way and there are a few things investors should know about it.
First of all, Planet Fitness is expected to be valued at roughly $1.58 billion during its IPO. It will be offering 13.5 million class A shares priced a $14 to $16 a piece. The fitness company will sell 9.1 million of the shares and stockholders will handle the rest. It will be sold on the New York Stock Exchange under the “PLNT” ticker, reports Reuters.
Following its IPO, Planet Fitness is expecting to increase its number of locations to over 4,000. It currently has about950 fitness facilities, with the majority of them being franchised. The company’s fitness centers are more for casual users and it has packages starting at $10 a month. It plans to raise $216 million in its IPO, Reuters notes.
Planet Fitness last reported earnings for the quarter that ended on March 31. At the time, it reported revenue of $76.9 million, which is a 34% increase from the same time in 2014, reports The Wall Street Journal.
