PE-backed YogaWorks debuts IPO


YogaWorks, a yoga instruction provider, has raised over $40.1 million for its IPO after pricing its 7.3 million shares at $5.50 per share. The stock began trading Friday August 11 on the NASDAQ under the ticker symbol “YOGA.” Cowen, Stephens Inc and Guggenheim Securities were the lead underwriters. YogaWorks is a portfolio company of Great Hill Partners.

PRESS RELEASE

CULVER CITY, Calif., Aug. 10, 2017 (GLOBE NEWSWIRE) — YogaWorks, Inc. (the “Company”), one of the largest and fastest growing providers of high quality yoga instruction in the U.S., today announced the pricing of its initial public offering of 7,300,000 shares of its common stock at a price to the public of $5.50 per share. The shares are expected to begin trading on The NASDAQ Global Market on August 11, 2017, under the symbol “YOGA”. In addition, the underwriters have been granted a 30-day option to purchase an additional 1,095,000 shares of common stock from the Company. The closing of the offering is expected to occur on August 16, 2017, subject to the satisfaction of customary closing conditions.

Cowen, Stephens Inc. and Guggenheim Securities are acting as joint book-running managers for the offering. Roth Capital Partners is acting as lead manager. Imperial Capital is acting as co-manager.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on August 10, 2017. The offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: Cowen and Company, LLC, by email at [email protected]; Stephens Inc., Attention Syndicate Department, 111 Center Street, Little Rock, AR 72201 or by telephone at (501) 377-2130 or by email at [email protected]; or Guggenheim Securities, LLC, Attention Equity Syndicate, 330 Madison Avenue, New York, NY 10017 or by email at [email protected] This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About YogaWorks, Inc.
YogaWorks, Inc. is one of the largest and fastest growing providers of high quality yoga instruction in the U.S. Through its YogaWorks and Yoga Tree studios, the Company offers yoga classes, integrated fitness classes, workshops, teacher training programs, and yoga-related retail merchandise. In addition to its studio locations, YogaWorks offers online instruction through its MyYogaWorks web platform, which provides subscribers with a highly curated catalog of over 1,000 yoga and meditation classes. YogaWorks strives to make yoga accessible to everybody and offers a wide range of class styles for people of all ages and abilities. The Company’s 50 studio locations saw over 3 million student visits in 2016. More information is available at www.yogaworks.com.

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