Xponential Fitness’ downsized IPO prices at $12 a share, below $14 to $16 price range

Xponential Fitness Inc.

said its initial public offering priced at $12 a share late Thursday, below its $14 to $16 price range. The company downsized the deal to 10 million shares from an earlier plan to offer 13.3 million. The shares are expected to start trading on the New York Stock Exchange later Friday, under the ticker ‘XPOF.’ BofA Securities, Jefferies and Morgan Stanley were lead underwriters in a syndicate of eight banks.The company is a boutique fitness franchiser with chains including Club Pilates; Row House, a studio chain for indoor rowing; and Stride, a treadmill-based studio chain. The deal comes a week after Mark Walhberg-backed F45 Training Holdings Inc.
hit the market. Both companies are going public after a year in which the health-club industry took a beating due to COVID-19. The Renaissance IPO ETF
has fallen 1.3% in the year to date, while the S&P 500
has gained 16%.

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