Planet Fitness Launches Initial Public Offering
Ropes & Gray represented Planet Fitness, Inc. in connection with its initial public offering of 15,525,000 shares of common stock sold by the company and TSG Consumer Partners at $16 per share. The shares began trading on the New York Stock Exchange on Aug. 6 under the ticker symbol PLNT.
Dover, N.H.-based Planet Fitness is a franchisor and operator of fitness centers across the United States, Puerto Rico and Canada.
The Ropes & Gray team was led by securities & public companies partner David Fine (Boston) and included tax partner Lee Allison (New York); benefits partner Renata Ferrari (Boston); securities & public companies associate Thomas Fraser (Boston); benefits associate Claire Rosa (Boston); and tax & benefits associate Denise Sohn (New York). Private equity partner Paul Van Houten (Boston) represented TSG Consumer Partners, the selling shareholder.