Equinox-backed fitness chain SoulCycle withdraws $100 million IPO

SoulCycle, a indoor cycling fitness chain, spun out of Equinox, with 58 locations, withdrew its plans for an initial public offering on Friday, citing market conditions. It originally filed in July 2015 with a proposed deal size of $100 million.

The New York, NY-based company was founded in 2006 and booked $151 million in sales for the 12 months ended September 30, 2015. It had planned to list on the NYSE under the symbol SLCY. Goldman Sachs, BofA Merrill Lynch, Citi, William Blair, Cowen & Company and RBC Capital Markets were set to be the joint bookrunners on the deal.