Xponential Fitness (XPOF) Sinks 6% Following Secondary Stock Offering from Chairman Grabowski By Investing.com

© Reuters. Xponential Fitness (XPOF) Sinks 6% Following Secondary Stock Offering from Chairman Grabowski

Xponential Fitness, Inc. (XPOF) shares fell 6% after-hours Monday after announcing it has commenced an underwritten public offering of 4,500,000 shares of its Class A common stock by affiliates of Snapdragon Capital Partners, an investment firm owned by Chairman Mark Grabowski. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 675,000 shares.

Grabowski is the Managing Partner at the selling shareholder Snapdragon Capital Partners, which he founded in 2018. Grabowski’s firm will continue to 19,734,357 shares, or 32% of the combined voting power, following the offering.

By Davit Kirakosyan

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