New York Stock Exchange listing sees F45 valued at more than US$1.5 billion
Australian founded F45 Training has made a spectacular debut on the New York Stock Exchange with the company valued around $2 billion (US$1.46 billion) at the close of business.
Making its market debut yesterday (15th July) on the New York Stock Exchange (NYSE) under the ticker symbol FXLV, the initial public offering of 20.3 million shares was priced at $16 a share and after fluctuations closed at $16.20, a gain of 1.3% on the offer price.
Hollywood actor Mark Wahlberg, who invested in F45 in 2019, was on the NYSE floor as trading started, telling CNBC “the energy (at our gyms) is absolutely incredible.”
Wahlberg, known for his fitness regime, went on tell CNBC why he likes the company’s approach, adding “die-hard fitness enthusiasts who don’t have the schedule, got to do it in the middle of the night or first thing in the morning, don’t want to get on a bike. That’s fine. But eventually that becomes, stagnant and boring.
“You want to be in there with the energy of people working out with you, alongside you, inspiring you, pushing you and supporting you.”
Founded in Sydney 2013 in Australia, F45 Training offers functional 45-minute studio and home workouts for people across all fitness levels. It has new workouts each day, inspired by a database of over 3,900 high-intensity interval training exercises consisting of both cardio and resistance.
The company currently has 1,555 studios and 2,801 franchises across 63 countries, and aims to ultimately have more than 23,000 studios worldwide.
Wahlberg went on to tell Squawk Box “people at any level of fitness can come in and do the workout, and I had never seen that before.
“Somebody who’s clearly in the beginning of their fitness journey working out with somebody who is an elite athlete, and being able to do the same exercises, where they’re modified, never the same exercise twice. It’s absolutely fantastic.”
Image: Mark Wahlberg (left) and F45 Chief Executive, Adam Gilchrist at the New York Stock Exchange yesterday. Credit: Source: NYSE
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