Xponential Fitness Prices Equity Offering By Affiliates Of Its CEO & Other Shareholders At 12% Discount

Xponential Fitness Inc XPOF has priced the underwritten public offering of 5 million shares by certain of its existing stockholders, affiliates of Snapdragon Capital Partners and Anthony Geisler, at $24.50 per share.
Anthony Geisler is the company's founder and has served as its CEO and on board of directors since 2017.
The offer price represents a 12% discount to Xponential's closing price on Feb. 7.
In connection with the offering, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 0.75 million shares at the public offering price.
The offering is expected to close on Feb. 10, 2023. The company will not receive any proceeds from the offering.
BofA Securities and Jefferies are acting as the joint book-running managers and underwriters for the Offering, and Morgan Stanley is also acting as a joint book-running manager.
Price Action: XPOF shares closed lower by 10.2% at $25.00 during after-hours trading on Tuesday.