If all goes swimmingly, Logan, Utah-based iFit Health and Fitness will net approximately $465 million in its forthcoming Initial Public Offering.
That's the bottom line for iFIT based upon a review of the now updated Form S-1 the company has filed with the U.S. Securities and Exchange Commission on its plans to sell stock to the public.
As reported by Silicon Slopes some four weeks ago, iFIT confidentially filed its initial Form S-1 on August 31. But as with any "confidential" prospectus, certain details were left out of that initial filing.
However, because the company has now begun its roadshow to hawk its shares to potential investors, the updated S-1 provides a more complete financial picture.
Specifically, iFIT plans to sell over 35.3 million shares to the public (presuming the underwriters exercise their options to purchase their over-allotment shares).
At $21/share (the top end of the expected offering price-range), this would generate over $740 million in stock sales in the IPO, with iFIT keeping $465 million after all expenses are paid related to the IPO. (Again, based upon the over-allotment purchase by the underwriters.)
This would also place a value of over $6 billion on the Logan-based company post-IPO.
All this and a lot more is found within the pages of iFIT's updated prospectus.
So good luck to the company and its underwriters in the days and weeks ahead.