Planet Fitness, Inc. Announces Pricing of Secondary Offering

NEWINGTON, N.H., June 22, 2016 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT) ("Planet Fitness" or the "Company") today announced the pricing of its previously announced underwritten secondary public offering of 10,000,000 shares of the Company's Class A common stock by certain of its existing stockholders at a price of $16.50 per share. The Company did not sell any shares and will not receive any of the proceeds from the sale of shares of its Class A common stock by the selling stockholders. In connection with the offering, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares of the Company's Class A common stock at the public offering price, less underwriting discounts and commissions.

The closing for the offering is expected to occur on June 28, 2016, subject to the satisfaction of customary closing conditions.

J.P. Morgan, BofA Merrill Lynch, Jefferies and Guggenheim Securities are acting as active book-running managers of the proposed offering.

The proposed offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at [phone]; or BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department or by emailing [e-mail]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by emailing [e-mail], or by calling [phone].

A registration statement on Form S-1 relating to the proposed offering was declared effective by the Securities and Exchange Commission on June 22, 2016.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 Planet Fitness

Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of March 31, 2016, Planet Fitness had more than 8.3 million members and 1,171 stores in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. 

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SOURCE Planet Fitness, Inc.

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