iFIT Postpones IPO Due to Adverse Market Conditions

iFIT Health & Fitness Inc., Logan, Utah, has postponed its previously announced initial public offering (IPO), the company announced on Oct. 7. iFIT made the decision based on adverse market conditions and will continue to evaluate the timing for the proposed offering.

The company filed paperwork with the U.S. Securities and Exchange Commision for an IPO on Aug. 31. That filing has not yet become effective.

iFIT brands include Freemotion, NordicTrack, ProForm, Sweat, Weider and 29029.

Volatility of the market is focused mostly on inflation concerns, higher energy costs and defaults at Chinese property developers, according to a report by Reuters.

Several European companies have postponed IPOs, but iFIT is the first major U.S. company to do so, according to Reuters.