F45 Training share price (NYSE:FXLV) debuts in wild US IPO

F45 shares have just hit the public markets…

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published July 16, 2021 1:59 pm AEST

The F45 Training Holdings Inc (NYSE: FXLV) share price is the latest to go public with an Initial Price Offering (IPO) over on the US markets.

The past year or two has seen many large and famous companies make their public share market debut. From DiDi Global Inc (NYSE: DIDI) to Coinbase Global Inc (NASDAQ: COIN) to the ASX's own Airtasker Ltd (ASX: ART), there certainly hasn't been a shortage of new public companies in recent times. Well, that list just got bigger with F45.

pile of coins and the letters IPO with a red arrow going up, indicating newly listed shares price gains — Image source: Getty Images

F45 share price says 'just do it' on IPO

So F45 shares hit the markets at an IPO price of US$16 and opened trading at US$17 in its first session on the New York Stock Exchange, which occurred last night (our time). The F45 share price then rose as high as US$17.75 shortly after floating (up 10.94%), before falling to a low of US$15.50 (down 3%) and eventually closing at US$16.20 a share, up 1.25% from its offer price.

Aussies might be especially familiar with this gm/fitness company, seeing as it was originally an Australian company. According to its IPO prospectus, F45 was first launched by Adam Gilchrist and Rob Deutsch in Sydney in 2013, before expanding all over Australia. Following this, the company launched a New Zealand presence, followed by India, and then the United Kingdom. Today, it has 1,555 studios across 63 countries. These mostly operate under a franchise model.

According to a report in the Australian Financial Review (AFR) today, F45 was planning on hitting the public markets through a Special Purpose Acquisition Vehicle (SPAC) last year, before the deal fell through. It seems F45's second bite at the apple has proven more successful.

The report also sheds some light on some of F45's financials. The company reportedly posted a net loss of $US37 million for the first 3 months of 2021 after posting revenues of US$18 million. Over the same period last year, the company lost US$733,000 on US$25 million of revenue.

At the first closing F45 share price, the company has a market capitalisation of US$1.46 billion.

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