Xponential Fitness refinances debt with $525M term loan, eliminates convertible preferred stock

Xponential Fitness, Inc.

• New $525M term loan and $25M revolver; 5-year maturity; interest based on Term SOFR or Base Rate plus margin.
• Proceeds used to repay ~$369.2M existing debt; paid $7.2M exit fee and $10.4M make-whole premium.
• Repurchased all 114,660 shares of preferred stock for ~$127M plus ~$1.4M accrued dividends; no preferred shares remain.
• Preferred stock was convertible into ~8.2M common shares; elimination removes dilution for common holders.
• CFO Meloun says refinancing may reduce interest payments by up to 1% if financial milestones achieved.