Life Time falls after unveiling planned secondary offering

Life Time group

05/06/2025 12:12

** Life Time Group's LTH.N shares fall 5% to $28.38 premarket after fitness chain operator announces commencement of secondary offering

** Buyout firms Leonard Green & Partners and TPG TPG.O are offering 20 million shares in the stock offering

** TPG has a 13.6% stake in LTH while Leonard Green owns 18.9% of the firm, according to SEC filing

** J.P. Morgan and BofA Securities are the underwriters for the proposed offering

** LTH has ~217.9 million outstanding shares for $6.5 billion market cap

** 10 of 13 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $38 - data compiled by LSEG

** As of last close, LTH stock up 35% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))