F45 Confirms Receipt of Unsolicited Proposal from Kennedy Lewis Investment Management LP

Rhea-AI Summary

On September 30, 2022, F45 Training Holdings, Inc. (NYSE: FXLV) received an unsolicited, preliminary, non-binding acquisition proposal from Kennedy Lewis Investment Management LP to buy all outstanding shares not already owned by KLIM at $4.00 per share in cash. The F45 Board of Directors will evaluate this proposal with its advisors while ensuring the best interests of the Company and its shareholders. There is no assurance that a definitive transaction will occur, and no further comments will be made until the review is complete.

Positive

• Received a $4.00 per share acquisition proposal from Kennedy Lewis Investment Management.
• Board of Directors will review the proposal to ensure shareholder interests.

Negative

• No guarantee that the acquisition proposal will lead to a completed transaction.

AUSTIN, Texas--(BUSINESS WIRE)-- F45 Training Holdings, Inc. ("F45" or the "Company") (NYSE: FXLV) confirmed that on September 30, 2022 it received an unsolicited preliminary non-binding proposal from Kennedy Lewis Investment Management LP ("KLIM") to acquire all of the outstanding shares of common stock of the Company, not already beneficially owned by KLIM or other stockholders participating in the proposed transaction, at a price per share equal to $4.00 in cash. Consistent with its fiduciary duties, the Company's Board of Directors will evaluate KLIM's proposal with its advisors and pursue the course of action it determines to be in the best interests of the Company and its stockholders. F45 shareholders need to take no action at this time.

There is no certainty that any transaction will be consummated, and F45 does not intend to comment further until the Company’s Board of Directors has concluded its review. The proposal was required to be disclosed by KLIM under Regulation 13D by the U.S. Securities and Exchange Commission.

About F45

F45 offers consumers functional 45-minute workouts that are effective, fun and community-driven. F45 utilizes proprietary technologies: a fitness programming algorithm and a patented technology-enabled delivery platform that leverages a rich content database of over 8,000 unique functional training movements across modalities to offer new workouts each day and provide a standardized experience across the Company’s global footprint.

For more information, please visit www.f45training.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005342/en/

Investor Relations

Bruce Williams

ICR, Inc.

F45IR@icrinc.com

Media Relations

Judy Lee

ICR, Inc.

F45PR@icrinc.com

Source: F45 Training Holdings, Inc.

FAQ

What is the acquisition proposal for F45 Training Holdings, Inc.?

An unsolicited proposal from Kennedy Lewis Investment Management LP to acquire all outstanding shares at $4.00 per share.

When did F45 Training Holdings, Inc. receive the acquisition proposal?

The proposal was received on September 30, 2022.

What is the stock symbol for F45 Training Holdings?

The stock symbol is FXLV.

Will F45 Training Holdings, Inc. comment further on the acquisition proposal?

F45 does not intend to comment further until the Board of Directors has completed its review.

Who proposed the acquisition of F45 Training Holdings, Inc.?

The proposal was made by Kennedy Lewis Investment Management LP.