Mindbody which offers software to fitness facilities has over 42000 local business subscribers on its platform in 124 countries according to an updated Securities and Exchange Commission filing

Mindbody, which offers software to fitness facilities, has over 42,000 local business subscribers on its platform in 124 countries, according to an updated Securities and Exchange Commission filing.

Mindbody Expects to Raise $89.3 Million in IPO

The San Louis Obispo, California-based company will offer 7.15 million shares of Class A common stock.

Mindbody estimates it will raise $89.3 million in its initial public offering on the NASDAQ Friday.

The San Louis Obispo, California-based company will offer 7.15 million shares of Class A common stock at an anticipated price of $13 to $15 under the symbol MB, according to an updated registration statement filed with the Securities and Exchange Commission on June 8. It filed for the IPO in May.

Mindbody, which offers software to fitness facilities, has more than 42,000 local business subscribers on its platform in 124 countries, according to the filing. It employs more than 250,000 practitioners who provide a variety of wellness services to more than 24 million active consumers.

Mindbody reported $6.3 billion in transactions occurred between consumers and subscribers within its marketplace in the 12 months ending March 31. Of that, $4.3 billion flowed through its payment platform.

Mindbody reported total revenue increased from $32 million in 2012, to $48.7 million in 2013, to $70 million in 2014. It reported net losses of $5.5 million in 2012, $16.2 million in 2013 and $24.6 million in 2014. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was negative $18.8 million in 2014.

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