Fast-growing fitness franchisor Xponential Fitness Inc. (NYSE: XPOF) of Irvine started trading on the New York Stock Exchange today, priced at $12 per share and quickly dropping by as much as 55 cents apiece.
The shares had regained to $11.89 each as of 11:34 a.m. in New York. The pricing had been downsized from the $14 to $16 range.
Xponential, the holder of nine fitness brands, filed plans for the initial public offering late last month The offering is scheduled to close on July 27.
The public listing comes as Xponential, founded in 2017, continues to aggressively grow its footprint of more than 1,750 boutique studios across nine fitness brands; nearly another 1,400 studios are currently in the pipeline, according to regulatory filings.
