F45 Training Holdings, Inc., the fitness studio, confirmed that it received an unsolicited preliminary non-binding proposal from Kennedy Lewis Investment Management LP (KLIM) to acquire all of the outstanding shares of common stock of the company not already beneficially owned by KLIM.

The offer was made on September 30 at a price per share equal to $4.00 in cash.

Consistent with its fiduciary duties, the company’s Board of Directors will evaluate KLIM’s proposal with its advisors and pursue the course of action it determines to be in the company’s and its stockholders’ best interests.

F45 said, “F45 shareholders need to take no action at this time. There is no certainty that any transaction will be consummated, and F45 does not intend to comment further until the company’s Board of Directors has concluded its review. “