NEW YORK -- Town Sports International (TSI) filed initial public offering papers with the Securities and Exchange Commission last week on the heels of its chairman and director, Mark Smith, resigning and the release of its annual report, which showed revenue increased $35.6 million in 2005.
TSI has been pursuing a double track in the past year--looking for a buyer while considering going public. A spokesperson for the company would not comment on the SEC filing or say whether the company was also still entertaining bids for a buyer. The IPO filing does not offer a date for stock to be issued to the public....
More