Planet Fitness’ $348.3 Million Secondary Offering


Simpson Thacher represented J.P. Morgan Securities LLC, as underwriter, in a secondary offering of Class A common stock of Planet Fitness, Inc. The selling stockholders sold 15,000,000 shares in the offering for gross proceeds of approximately $348.3 million.

Planet Fitness, Inc.’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 8.7 million members and 1,242 locations in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic.

The Simpson Thacher team included John C. Ericson (Picture), Chris Webb and Michael Panzer (Capital Markets); Drew Purcell (Tax); David Rubinsky and Nadine Mompremier (ECEB); Michael Isby and Louise Kruger (Environmental); Greg Chuebon (IP); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: John Ericson – Simpson Thacher & Bartlett; Christopher Webb – Simpson Thacher & Bartlett; Michael Panzer – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Nadine Mompremier – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Louise Kruger – Simpson Thacher & Bartlett; Gregory Chuebon – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: JP Morgan Securities;

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Author: Ambrogio Visconti