Life Time Group Plans to Sell 12 Million Shares
- Life Time Group Holdings, Inc. plans to sell 12 million shares on NYSE.
- The offering includes 6 million shares from the company and 6 million from existing stockholders.
- This move will impact the company's ownership structure and stock performance.
CHANHASSEN, Minn., Aug. 12, 2024 – Life Time Group Holdings, Inc. (NYSE: LTH) has revealed plans to conduct an underwritten public offering of 12 million shares of its common stock, split evenly between the company and certain existing stockholders. This offering is being made under Life Time’s shelf registration statement filed with the Securities and Exchange Commission (SEC). The completion of the offering is contingent on market conditions, and there is no guarantee regarding its timing or terms. Morgan Stanley and BofA Securities are leading the offering as active book-running managers, with Deutsche Bank Securities and Wells Fargo Securities also participating. Interested parties can access the preliminary prospectus supplement and accompanying prospectus on the SEC’s website, with additional copies available through the lead managers. Notably, Life Time will not receive any proceeds from the shares sold by the Selling Stockholders. The announcement emphasizes that this press release does not constitute an offer to sell or a solicitation to buy the securities, and any sale will comply with applicable state laws. Life Time, known for its health and wellness initiatives, also provides resources through its Life Time Digital app, promoting a healthy lifestyle. The company cautions that forward-looking statements regarding the offering and its expectations involve risks and uncertainties that could lead to actual results differing significantly from those projected. Life Time does not intend to update these statements unless legally required.