Simpson Thacher represented the underwriters, led by J.P. Morgan, BofA Merrill Lynch, Jefferies and Credit Suisse, in the initial public offering of Planet Fitness, Inc. (“Planet Fitness”). A total of 15,525,000 shares of Class A common stock were sold in the offering at a price to the public of $16 per share, including 2,025,000 shares sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters. Planet Fitness’s Class A common stock is listed on the New York Stock Exchange under the symbol “PLNT.”
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. Planet Fitness has more than 7 million members and 1,000 locations in 47 states, Puerto Rico and Canada.
The Simpson Thacher team included Rhett Brandon, John Ericson, Karen Wang and Tracy Ke (Capital Markets); Gary Mandel and Drew Purcell (Tax); David Mollo-Christensen and Nadine Mompremier (ECEB); Shari Ness (Public Company Advisory Practice); Michael Isby and Louise Kruger (Environmental); Linda Nyberg (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).