F45 Training, a global fitness franchise offering 45-minute workouts, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
F45 Training offers fun, effective, and community-driven functional workouts that combine elements of high-intensity interval, circuit, and functional training exercises. The company's in-studio experience is powered by a database of over 3,900 unique training movements and a team of instructional trainers. As of March 31, 2021, the company had 2,247 Total Franchises Sold in 63 countries, including 1,487 Total Studios, of which 1,286 had re-opened following temporary COVID-19 closures.
In June 2020, the company announced it would be going public via SPAC merger with Crescent Acquisition (Formerly CRSA; now LVOX) at an enterprise value of $845 million, but in October the companies terminated the agreement.
The Austin, TX-based company was founded in 2019 and booked $82 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol FXLV. F45 Training filed confidentially on September 24, 2019. Goldman Sachs, and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
