Louis Juricic
1 min read
Investing.com — Shares of Xponential Fitness (NYSE: XPOF) climbed 12% on Friday following reports that Fund 1 Investments LLC is exploring a bid to take the boutique fitness franchisor private.
According to sources cited by Bloomberg, Fund 1 Investments—currently Xponential’s third-largest shareholder with nearly a 10% stake—is weighing a cash offer between $5.61 and $7.00 per share to acquire the company outright.
An offer at the high end of that proposed range would represent an 87% premium over Xponential’s Thursday closing price of $3.74, which gave the company a market valuation of approximately $184.5 million.
The Rincon, Puerto Rico-based fund reportedly holds a total economic exposure of nearly 20% in the fitness company. Fund 1 operates as a global long-short equity firm specializing in the consumer, telecom, media, and technology sectors.
Headquartered in Irvine, California, Xponential Fitness is a leading franchisor in the boutique fitness space, boasting well-known brands such as Club Pilates and Pure Barre.
Sources cautioned that no final decisions have been made and Fund 1’s plans could still shift. Representatives for both Fund 1 Investments and Xponential Fitness have not yet commented on the reports.
Original Article
Xponential Fitness shares jump on reports of takeover bid
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