After Oatly, the next company comes onto the capital market with the support of celebrities. F45 Training, in which actor Mark Wahlberg is involved, celebrated its stock market debut on Thursday. The IPO flushed a three-digit million amount into the company’s coffers, with which, among other things, takeovers are to be financed.
At the start of trading, F45’s stock jumped nearly eleven percent from $ 16 to $ 17.70. In the course of the day, however, the price came back and even fell below the issue price. On Thursday evening there was an increase of one percent.
The IPO brought in a total of $ 325 million, of which 190 million will flow into F45. The company plans to use the proceeds to pay off part of its $ 248 million debt.
In addition, $ 25 million will be used to acquire the bankrupt boutique indoor cycling chain Flywheel.
Unsurprisingly, due to Corona and closed fitness studios, the company’s sales fell by more than eleven percent in the past fiscal year. With the current opening strategy, F45 wants to get back on the growth track.