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2021-09-28

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IFit Health & Fitness Seeks $6.6 Billion Valuation In IPO

IFit Health & Fitness is looking to raise as much as $646.15 million through a U.S. initial public o

IFit Health & Fitness Seeks $6.6 Billion Valuation In IPO

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In fiscal 2019, sales were $700.0 million. The company generated a net income of $56.6 million during fiscal 2019 with a net loss of $98.5 million and $516.7 million during fiscal 2020 and 2021, respectively.\nProceeds from the offering will be used for general corporate purposes and to make a $35.0 million bonus payment to the co-founder and CEO Scott R. Watterson.\nThe shares are expected to trade on the Nasdaq Global Select Market under the symbol “IFIT.”\nMorgan Stanley, BofA Securities and Barclays are acting as lead book-running managers for the proposed offering. Citigroup, Credit Suisse Securities (USA) LLC, Jefferies LLC and RW Baird & Co. 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