F45 Confirms Receipt of Unsolicited Proposal from Kennedy Lewis Investment Management LP
AUSTIN, Texas--(BUSINESS WIRE)-- F45 Training Holdings, Inc. ("F45" or the "Company") (NYSE: FXLV) confirmed that on September 30, 2022 it received an unsolicited preliminary non-binding proposal from Kennedy Lewis Investment Management LP ("KLIM") to acquire all of the outstanding shares of common stock of the Company, not already beneficially owned by KLIM or other stockholders participating in the proposed transaction, at a price per share equal to $4.00 in cash. Consistent with its fiduciary duties, the Company's Board of Directors will evaluate KLIM's proposal with its advisors and pursue the course of action it determines to be in the best interests of the Company and its stockholders. F45 shareholders need to take no action at this time.
There is no certainty that any transaction will be consummated, and F45 does not intend to comment further until the Company’s Board of Directors has concluded its review. The proposal was required to be disclosed by KLIM under Regulation 13D by the U.S. Securities and Exchange Commission.
F45 offers consumers functional 45-minute workouts that are effective, fun and community-driven. F45 utilizes proprietary technologies: a fitness programming algorithm and a patented technology-enabled delivery platform that leverages a rich content database of over 8,000 unique functional training movements across modalities to offer new workouts each day and provide a standardized experience across the Company’s global footprint.
For more information, please visit www.f45training.com.
Source: F45 Training Holdings, Inc.