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CHANHASSEN, Minn. - Life Time Group Holdings, Inc. (NYSE: LTH), known for its portfolio of athletic country clubs and health programs, revealed today that affiliates of Leonard Green & Partners, L.P. and TPG Inc. are set to sell 20 million shares of Life Time’s common stock. This transaction is part of an underwritten public offering under the company’s existing shelf registration with the SEC.
The selling shareholders, referred to in the announcement as the Selling Stockholders, will retain all proceeds from the sale. Life Time itself will not benefit financially from this offering. Post-sale, the collective voting power of the group, inclusive of the Selling Stockholders, will represent approximately 43.1% ownership of Life Time’s common stock. According to InvestingPro data, the stock has delivered an impressive 71.57% return over the past year, though current analysis suggests the stock may be trading above its Fair Value.
The completion of this offering is dependent on market conditions and other factors, with no guarantees regarding the finalization of the sale or the specifics of the offering terms. Investment banks J.P. Morgan and BofA Securities have been appointed as underwriters for the offering.
This announcement follows Life Time’s registration statement submission on August 12, 2024, which became effective immediately. Potential investors are encouraged to review the prospectus and related documents available on the SEC’s website to understand the details of the offering.
Life Time emphasizes that this press release is not an offer to sell or a solicitation of an offer to buy the securities in question. The sale of these securities will not be legal in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the securities laws of that jurisdiction.
Based on a press release statement, Life Time, which operates over 180 athletic country clubs and hosts numerous athletic events, aims to enhance the health and happiness of its members, ranging from infants to nonagenarians. The company also provides a variety of health-related programs, digital applications, and nutritional products, and it prides itself on its workplace culture, having been certified as a Great Place to Work®. Financial metrics from InvestingPro show strong business momentum with 18.58% revenue growth and a P/E ratio of 31.08. Subscribers to InvestingPro can access 8 additional key insights and a comprehensive Pro Research Report, providing deeper analysis of the company’s financial health and growth prospects.
Investors are cautioned to consider the forward-looking statements regarding the proposed offering, which involve risks and uncertainties that could cause actual results to differ materially from those projected. Life Time has expressed that it does not plan to update these forward-looking statements unless required by law.
In other recent news, Life Time Group Holdings Inc. reported first-quarter 2025 earnings that exceeded expectations, with earnings per share reaching $0.39 compared to the anticipated $0.26. The company also reported revenues of $706 million, surpassing the forecast of $684.49 million. Despite these strong financial results, Life Time’s stock experienced a decline in pre-market trading, reflecting broader market concerns. Additionally, the company raised its full-year comparable center revenue guidance to between 8.5% and 9.5%.
RBC Capital Markets has increased its price target for Life Time Group shares to $38.00, up from $35.00, while maintaining an Outperform rating. This change follows the company’s better-than-expected earnings, with in-center revenue growth outpacing dues revenue growth. RBC Capital’s analyst noted Life Time Group’s effective pricing strategy and projected center growth in 2026 to surpass that of 2025. Despite a temporary slowdown in membership growth, the analyst expressed confidence in the company’s business model and growth prospects, especially with the upcoming pool season expected to boost membership numbers.
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