F45 Training (FXLV) Has Big Ambitions For Fitness And Is Supported By Mark Wahlberg

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.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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