Planet Fitness files for IPO
Planet Fitness Inc. filed for an initial public offering to raise up to $100 million. The fitness center operator and franchisor said it plans to apply to list its stock on the New York Stock Exchange under the symbol "PLNT." The lead underwriters are J.P. Morgan, BofA Merrill Lynch, Jefferies and Credit Suisse. Planet Fitness, which charges just $10 a month, had 918 stores as of Dec. 31, and 6.1 million members. Total revenue in 2014 was $279.8 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.