CHANHASSEN, Minn., Feb. 28,
2025 /PRNewswire/ -- Life Time Group Holdings,
Inc. (NYSE: LTH) ("Life Time" or the "Company") announced
today the pricing of the previously announced underwritten
secondary offering of 23,000,000 shares of the Company's common
stock by certain selling stockholders, resulting in total gross
proceeds of $699,200,000, before
deducting underwriting discounts and commissions.
The offering is expected to close on March 3, 2025, subject to the satisfaction of
customary closing conditions. 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.
J.P. Morgan and BofA Securities are serving as the underwriters
for the proposed offering. The underwriters propose to offer the
shares to the public from time to time, at a fixed price.
Important Information
An automatic shelf registration statement on Form S-3, including
a base prospectus, was filed with the SEC on August 12, 2024, and became effective upon
filing. The offering is being made only by means of a written
prospectus supplement and the accompanying prospectus. Before you
invest, you should read the prospectus included in that
registration statement and the documents incorporated by reference
that form part of the registration statement, as well as the
prospectus supplement and accompanying prospectus related to the
proposed offering. You may obtain these documents for free by
visiting the SEC's website located at http://www.sec.gov. Copies of
the preliminary prospectus supplement and the accompanying
prospectus relating to these securities may also be obtained from
either J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com or from BofA Securities at
1-800-294-1322 or by emailing dg.prospectus_requests@bofa.com. The
final terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy
lives through its portfolio of more than 175 athletic country clubs
across the United States and
Canada. The health and wellness
pioneer also delivers a range of healthy way of life programs and
information via its complimentary Life Time Digital app. The
Company's healthy living, healthy aging, healthy entertainment
communities and ecosystem serve people 90 days to 90+ years old and
are supported by a team of more than 42,000 dedicated
professionals. In addition to delivering the best programs and
experiences through its clubs, Life Time owns and produces nearly
30 of the most iconic athletic events in the country.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
forward-looking statements, including with respect to consummation
of the proposed public offering. Management has based these
forward-looking statements on its current expectations,
assumptions, estimates and projections. While they believe these
expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions
and involve known and unknown risks and uncertainties, many of
which are beyond management's control. These statements involve
risks and uncertainties that may cause Life Time's actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by these
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and, except as
required by law, Life Time assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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SOURCE Life Time Group Holdings, Inc.
