JWCA advises PLANET FITNESS on its $300 million ACCELERATED SHARE REPURCHASE

DECEMBER 2019 | read press release

Transaction Background

J. Wood Capital Advisors acted as financial advisor to Planet Fitness, and led the execution of the Company’s second accelerated share repurchase program

Assisted the PLNT team with ASR design, documentation, and accounting review to ensure appropriate treatment

Created a process to achieve the best terms for Planet Fitness:

• Led an auction process to drive Company-friendly terms

• Created the documents with the Company upfront to ensure company-friendly provisions

Provided advice, support and analysis during the execution.

Results

The auction process allowed the Company to achieve a meaningful discount at a large transaction size of $300mm

Planet Fitness’ shares outstanding were immediately reduced by ~3.3mm shares, over 4% of their shares outstanding

JWCA’s expertise was instrumental in the document negotiation and accounting process, allowing the Company to execute its second ASR with confidence