Life Time $300 million follow-on offering
The shares are listed on the New York Stock Exchange
Davis Polk advised the representatives of the several underwriters in connection with the $300 million SEC-registered follow-on offering of 13,800,000 shares of common stock of Life Time Group Holdings, Inc., which included 6,000,000 shares sold by the company and 7,800,000 shares sold by certain selling stockholders. The common stock is listed on the New York Stock Exchange under the symbol “LTH.”
Life Time, the “Healthy Way of Life Company,” is a premier lifestyle and leisure brand offering premium health, fitness and wellness experiences to a community of more than 1.5 million individual members, who together comprise more than 878,000 memberships. It has built its reputation and robust brand equity through continuous focus on delivering high-quality experiences through its omni-channel physical and digital ecosystem that includes 175 centers – distinctive, resort-like athletic country club destinations – across 31 states in the United States and one province in Canada.
The Davis Polk capital markets team included partner Michael Kaplan and associates Michael Schuster and Fei Deng. Counsel Michael Comstock and associate Shefain Islam provided environmental advice. The tax team included counsel Christopher A. Baratta and associates Dov Sussman and Kelsey Nelson. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk deal team are based in the New York office.