MINNEAPPOLIS, MN — As predicted in the pages of Club Industry's January cover story on the State of the Industry, Life Time Fitness Inc. is leading the charge to Wall Street.
The company recently filed a registration statement with the Securities and Exchange Commission for an initial public offering of up to $200 million of common stock. Credit Suisse First Boston and Merrill Lynch & Co. will act as joint book-running managers.
As of March 15 the company operated 33 centers in eight states, including Arizona, Illinois, Indiana, Michigan, Minnesota, Ohio, Texas and Virginia. The company also has expanded into other health and wellness-related offerings, including a healthy way of life magazine, a line of nutritional products and athletic events.
The company declined to comment on the offering.
Stay tuned to the pages of Club Industry magazine for more on this development.