iFIT Health & Fitness has confirmed plans to go public
The connected fitness and equipment giant will list on the Nasdaq stock exchange
Morgan Stanley, BofA Securities and Barclays Capital will handle the float
iFIT completed a rebrand earlier this year, ditching its former name Icon Health & Fitness
iFIT Health & Fitness has confirmed plans to go public and list the business on the Nasdaq.
The connected fitness and equipment specialist – whose brands include Freemotion, NordicTrack and ProForm – has filed a registration statement with the US Securities and Exchange Commission.
The statement outlines plans for a proposed IPO of its common stock.
Morgan Stanley, BofA Securities, and Barclays Capital will act as lead book-running managers for the proposed offering.
iFIT completed a rebrand earlier this year, ditching its former name Icon Health & Fitness – under which it had traded since the company was founded in 1977.
The rebrand was part of a strategy to create an omnichannel fitness service around the iFIT platform, combining its club-based and at-home fitness equipment brands.
The subscription-based iFIT platform provides the content to all of the group's equipment brands and also features no-equipment, at-home digital workouts.
It currently has more than six million members in over 120 countries.
During the pandemic, as consumers moved to digital fitness services, the group focused on making its iFIT platform central to all operations.
No date has yet been set for the IPO.
