NEW YORK – Planet Fitness, the $10-per-month gym chain, filed Monday for an initial public offering.
The Newington, N.H.-based company's prospectus shows an offering size of $100 million, a placeholder amount used to calculate fees that will probably change. The company, backed by TSG Consumer Partners, will not receive any proceeds from the IPO.
Planet Fitness, which trademarked the phrase "Judgment Free Zone," said in the filing that it is the largest operator of fitness centers in the country by a number of customers, with 7.1 million members and 976 stores.
The filing comes after a week of fitness-related IPOs. Fitbit Inc., whose devices track everything from exercise to sleep, raised $841 million in a larger-than-expected share sale. Mindbody Inc., which provides cloud-based software that helps fitness centers with their bookings and payments, sold $100 million of shares.
In the year through Dec. 31, Planet Fitness generated $279.8 million in revenue.
JPMorgan Chase, Bank of America, Jefferies Group and Credit Suisse are managing the offering.
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