Life Time Group Holdings, Inc (LTH) Commences 20M Share Secondary Offering
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Life Time Group Holdings, Inc. (NYSE: LTH) ("Life Time" or the "Company") announced today that certain affiliates of Leonard Green & Partners, L.P. and TPG Inc. (the "Selling Stockholders") intend to offer and sell 20,000,000 shares of the Company's common stock in an underwritten public offering pursuant to Life Time's shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The Selling Stockholders will receive all of the proceeds from the proposed offering. The Company will not receive any of the proceeds from the sale of shares of the Company's common stock by the Selling Stockholders. Following the consummation of the offering, the Company's voting group, which includes the Selling Stockholders, will hold approximately 43.1% of the Company's common stock.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
J.P. Morgan and BofA Securities are serving as the underwriters for the proposed offering.
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