Life Time Signs New Sale-Leaseback Letter of Intent for $45 Million, Adding to Previously Announced Sale-Leaseback Transactions of $78 Million
Life Time Group Holdings, Inc. (NYSE: LTH) announced the successful closing of a sale-leaseback transaction for $33 million as part of its ongoing strategy to execute $300 million in such transactions in 2023. The latest agreement involves a non-binding letter of intent for an additional $45 million sale-leaseback with an institutional investor, set to conclude by May 2023. The company's efforts are focused on leveraging proceeds from these transactions to foster growth opportunities and enhance its balance sheet.
- Closed on $33 million sale-leaseback transaction.
- Entered non-binding letter of intent for an additional $45 million sale-leaseback.
- On track to complete $300 million in sale-leaseback transactions in 2023.
- None.
As of
CHANHASSEN, Minn.,
As announced on
The Company is well positioned and remains on track to complete
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of more than 160 athletic country clubs across
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements, including with respect to the expected execution of definitive agreements for the sale-leaseback transactions and the successful closing of these transactions (including the pricing and timing thereof) as well as Life Time's expectations, guidance or future operating results, and other statements identified by words such as "estimates," "expects," "projects," "plans," "intends," "outlook" and similar expressions. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control.
These statements involve risks and uncertainties that may cause Life Time's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, including with respect to the ability to execute definitive agreements, satisfy closing conditions and close the proposed sale-leasebacks on a timely basis or at all, the possibility that modifications to the pricing and terms of the transactions may be required, business disruption and other risk factors relating to the business or industry as detailed from time to time in the Company's reports filed with the
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