Yesterday, F45’s stock was $15.66. Nevertheless, today it is currently at $16.44, resulting in a 5% gain. The company yesterday went public with 20,312,500 shares of its common stock or a $325 million initial public offering. One of the notable investors is Mark Wahlberg. Wahlberg invested in F45 through a private investment vehicle called MWIG LLC, which sold almost 1.6 million shares in the IPO. Wahlberg owns about 26% of the membership interest in MWIG, according to F45’.
F45 Training Holdings operates as a fitness franchisor in the United States, Australia, and internationally. It offers consumers functional workouts that combine elements of the high-intensity interval, circuit, and functional training. The company provides its workouts primarily through its digitally connected network of studios.
The company intends to use the $280 million in proceeds from the stock sale to pay down debt, pay bonuses to certain employees, and pay the $25 million purchase price for F45’s acquisition of the Flywheel indoor cycling studio.
Finance and Entertainment Reporter
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