CHANHASSEN, Minn., Aug. 12,
2024 /PRNewswire/ -- Life Time Group Holdings, Inc.
(NYSE: LTH) ("Life Time" or the "Company") announced
today the pricing of the previously announced
underwritten public offering of 12,000,000 shares of the
Company's common stock held by the Company and certain of its
existing stockholders (the "Selling Stockholders") at a price to
the public of $21.75 per share.
The underwriters in the offering will have a 30-day option to
purchase up to an additional 1,800,000 shares of common stock from
the Selling Stockholders. The offering is expected to close on
August 14, 2024, subject to customary
closing conditions. Life Time intends to use the net proceeds from
the offering for general corporate purposes, which may include
repayment of indebtedness. The Company will not receive any of the
proceeds from the sale of shares of the Company's common stock by
the Selling Stockholders.
Morgan Stanley and BofA Securities are acting as lead active
book-running managers and Deutsche Bank Securities and Wells Fargo
Securities are acting as active book-running managers for the
proposed offering. Evercore ISI, Guggenheim Securities, BMO Capital
Markets, Mizuho and RBC Capital Markets are also acting as
book-running managers for the proposed offering. Oppenheimer &
Co., Craig-Hallum and Northland Capital Markets are acting as
co-managers for the proposed offering.
Important Information
The securities described above are being offered pursuant to a
shelf registration statement on Form S-3 (No. 333-281465),
including a base prospectus, which was filed with the SEC on
August 12, 2024 and became effective
upon filing. The offering will be made only by means of a written
prospectus supplement and the accompanying prospectus that form
part of the registration statement. A preliminary prospectus
supplement related to the offering and accompanying prospectus was
filed with the SEC and is available on the SEC's website located at
http://www.sec.gov.
When available, copies of the final prospectus supplement and
the accompanying prospectus relating to these securities may be
obtained from either Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or from BofA Securities,
Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon
Street, Charlotte, NC
28255-0001.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy
lives through its portfolio of more than 170 athletic country clubs
across the United States and
Canada. The health and wellness
pioneer also delivers a range of healthy way of life programs and
information via its complimentary Life Time Digital app. The
Company's healthy living, healthy aging, healthy entertainment
communities and ecosystem serve people 90 days to 90+ years old and
are supported by a team of more than 45,000 dedicated
professionals. In addition to delivering the best programs and
experiences through its clubs, Life Time owns and produces nearly
30 of the most iconic athletic events in the country.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
forward-looking statements, including with respect to the proposed
public offering. Management has based these forward-looking
statements on its current expectations, assumptions, estimates and
projections. While they believe these expectations, assumptions,
estimates and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks
and uncertainties, many of which are beyond management's control.
These statements involve risks and uncertainties that may cause
Life Time's actual results, performance or achievements to differ
materially from any future results, performance or achievements
expressed or implied by these forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, Life Time assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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SOURCE Life Time Group Holdings, Inc.