Planet Fitness is a step closer to going public after having priced its initial shares but a date for the public offering has not yet been determined Photo by Jennifer Ray

Planet Fitness is a step closer to going public after having priced its initial shares, but a date for the public offering has not yet been determined. (Photo by Jennifer Ray.)

Planet Fitness Sets Its Share Price at $14 to $16 in IPO

Planet Fitness still does not have a date set for its shares to be traded publicly, but the company noted that it has set its share pricing at $14 to $16 per share, according to a filing with the Securities and Exchange Commission on Monday.

Planet Fitness, Newington, New Hampshire, still does not have a date set for its shares to be traded publicly, but the company noted that it has set its share pricing at $14 to $16 per share, according to a filing with the Securities and Exchange Commission on Monday.

The company plans to sell 9.122 million shares in the offering while selling stockholders plan to offer an additional 4.4 million. The company plans to raise $216 million. The filing also said that the company had $1.2 billion in 2014 revenue and had 6.1 million members at the end of 2014.

The company will trade under the PLNT symbol on the New York Stock Exchange. According to the filing, the company will begin the sale to the public "as soon as practicable after this registration statement is declared effective."

The company stated that it would use the net proceeds from the offering to "purchase issued and outstanding common membership interests, which we refer to as 'Holding Units,' in Pla-Fit Holdings LLC from certain existing owners, whom we refer to as 'Continuing LLC Owners.' There is no public market for the Holding Units. The purchase price for the Holding Units will be equal to the public offering price of our Class A common stock, less the underwriting discount…" 

The company filed for an IPO in June. 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish