Gym Operator Planet Fitness Plans IPO

Filed under: Company News, Retail, Healthcare Industry, IPOs

NEW YORK — Planet Fitness, the company known for its low-cost purple-and-yellow gyms, plans to go public.

The company said Tuesday that it filed a “draft registration statement” to the Securities and Exchange Commission for an initial public offering. The filing is confidential and the paperwork is sealed from the public. Under the law, companies that have revenue under $1 billion are able to submit confidential IPO drafts to the SEC.

Planet Fitness didn’t say how many shares it would offer, what the stock would be priced at or how much money it plans to raise. It also didn’t say when it expects the IPO to happen.

Becky Brown, a spokeswoman at Planet Fitness, confirmed the filing to The Associated Press Tuesday.

According to its website, Planet Fitness Inc. has more than 900 locations around the country, with gym memberships starting at $10 a month.

The company is headquartered in Newington, New Hampshire.

Permalink | Email this | Linking Blogs | Comments

SOURCE: DailyFinance.com – Read entire story here.