Xponential Fitness, Inc., the largest global franchisor of boutique fitness brands, has announced the pricing of an underwritten public offering of 4,500,000 shares of the Company’s Class A common stock by certain of the Company’s existing stockholders, affiliates of Snapdragon Capital Partners (the Selling Stockholders), at a public offering price of US$20 per share. In addition, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of the Company’s Class A common stock to be sold by the Selling Stockholders at the public offering price, less the underwriting discount. The offering is expected to close on April 11, 2022, subject to customary closing conditions. The Company will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Ian Schuman and Stelios Saffos and Chicago partner Scott Westhoff, with Chicago associates Ben Winnett, Andrew Rutsky, and Omeed Valipour. Advice was also provided on benefits & compensation matters by Los Angeles/Orange County partner Michelle Carpenter, with Los Angeles associate Harrison Taylor; on IP matters by Century City partner Jonathan West and Bay Area partner Joe Wetzel, with Century City associates Sam Lehman and Matt Mims; and on tax matters by New York partners Jocelyn Noll and Eric Kamerman.