Xponential Fitness enters $50M accelerated share repurchase agreement with Bank of America

Xponential Fitness, Inc.

Repurchase of $50M of Class A common stock via ASR agreement with Bank of America.
Initial delivery of approximately 2.0 million shares to the company.
Final settlement expected no later than October 2023.
Funded with cash on hand after closing additional term loans.
ASR counterparty is Bank of America, N.A.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Xponential Fitness, Inc. entered into ASR Agreement with Bank of America, N.A. valued at $50.0 million (effective 2023-08-08).

Action: entry
Agreement: equity purchase
Counterparty: Bank of America, N.A.
Value: $50.0 million
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Xponential Fitness, Inc. (the “Company”) entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Bank of America, N.A. (the “ASR Counterparty”) to repurchase an aggregate of $50.0 million of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”).

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Source: SEC EDGAR

accession 0001193125-23-206555

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