Life Time Group Holdings, Inc. and certain of its existing stockholders (Selling Stockholders) intend to offer 12 million shares of the company’s common stock (ticker symbol “LTH) in an underwritten public offering under Life Time’s shelf registration statement filed with the Securities and Exchange Commission.
The company intends to offer six million shares, and Selling Stockholders plan to offer six million shares in the effort.
The underwriters in the offering will have a 30-day option to purchase up to an additional 1.8 million shares of common stock from the Selling Stockholders. The offering is subject to market and other conditions, and there are no assurances as to whether or when the offering will be completed or the actual size or terms of the offering.
Life Time intends to use the net proceeds from the offering for general corporate purposes, which may include repaying indebtedness. The company will not receive any of the proceeds from the sale of shares of its common stock by the Selling Stockholders.
Morgan Stanley and BofA Securities are acting as lead active book-running managers, and Deutsche Bank Securities and Wells Fargo Securities are acting as active book-running managers for the proposed offering. Evercore ISI and Guggenheim Securities are also acting as book-running managers for the proposed offering.
Image courtesy Life Time Group Holdings, Inc.
