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

Transaction Background

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

Helped Planet Fitness evaluate its options related to return of capital to shareholders.

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 ASR 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 ~4.6mm shares, over 5% of their shares outstanding.

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