Equinox Holdings LLC, which owns Equinox, SoulCycle and Blink Fitness, is in talks with Social Capital Hedosophia Holdings Corp. VI for a deal that would take Equinox public, according to Bloomberg. The deal would involve a merger.
Social Capital Hedosophia Holdings Corp. VI is a special purpose acquisition company (SPAC) that is headed by Chamath Palihapitiya. It went public in October through an initial public offering.
Sportico previously reported that Equinox Holdings was in talks with various SPACs to take the company public.
CNBC’s David Farber also reported that Social Capital is in talks with Equinox Holdings after several other SPACs passed on a deal.
Equinox had $650 million in 2020 revenue with a loss of $350 million due to temporary club closures caused by the COVID-19 pandemic, according to Bloomberg. The company is seeking a valuation of $7 billion or more.
Bloomberg reports the Palihapitiya’s company has raised six SPACS, merging with companies to create Clover Health Investments Corp., Opendoor Technologies Inc. and Virgin Galactic Holdings Inc.