SoulCycle IPO News Roundup
Posted: August 4, 2015 in Chains
SoulCycle
New York, N.Y. – SoulCycle, a fitness company that focuses on indoor cycling, has filed for an initial public offering. Being among several fitness-based companies to do so this year, it has caused a flurry of activity and speculation in the markets and media covering the story. Here’s a roundup of some of those stories:
Wall Street Journal:
Spin class is spinning up big revenues and profits.
SoulCycle Inc., the network of cycling exercise studios, filed Thursday to raise $100 million in an initial public offering, providing details of its fast growth and impressive bottom line for the first time. The $100 million figure is likely a placeholder amount and may change.
The New York Times:
So popular is SoulCycle that customers eagerly arrange their schedules around openings for the week’s classes, with sessions regularly booked up within minutes.
Now the popular indoor cycling fitness boutique is betting that stock market investors will prove just as fervent.
Bloomberg Business:
SoulCycle Inc., a fitness chain with feel-good indoor cycling classes that generally cost $34 for 45 minutes, filed for an initial public offering Thursday.
The company, which describes its indoor cycling class experience as a “carefully curated cardio party,” filed with a $100 million placeholder, a figure used to calculate registration fees that may change. It plans to use the proceeds from the IPO to repay debt and for capital expenditures.
SoulCycle Form S-1:
