Life Time falls after $590 mln secondary offering

ReutersJun 5, 2025 2:05 PM

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Life Time Group's LTH.N shares down 2.7% to $29.06 early Thurs after fitness chain operator announces pricing of secondary offering resulting in gross proceeds of $590 mln

Offering priced at $29.50, which represents 1.2% discount to stock's last close

Buyout firms Leonard Green & Partners and TPG TPG.O are the sellers

Prior to the offering, TPG had a 13.6% stake in LTH while Leonard Green owned 18.9% of the firm, according to SEC filing

J.P. Morgan and BofA are underwriters for the offering

LTH has ~219.4 shares outstanding for ~$6.4 bln market cap

9 of 12 brokerages rate the stock "buy" or higher and 3 rate "hold"; median PT $38, latest LSEG data shows

As of last close, LTH stock up 35% YTD

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