Life Time Announces Commencement of Secondary Offering of 23,000,000 Shares of Common Stock

Core Viewpoint - Life Time Group Holdings, Inc. announced a public offering of 18,000,000 shares of its common stock by certain affiliates of Leonard Green & Partners, TPG Inc., and Partners Group, with all proceeds going to the selling stockholders [1] Group 1: Offering Details - The offering is made under Life Time's shelf registration statement filed with the SEC, and the company will not receive any proceeds from this sale [1] - The offering is subject to market conditions, and there is no assurance regarding its completion or the actual size and terms [3] Group 2: Executive Actions - Bahram Akradi, the Founder, Chairman, and CEO, exercised 9,388,000 options and is selling five million shares to meet tax obligations, resulting in a 25% increase in his ownership to over 15.2 million shares since the company went public in October 2021 [2] Group 3: Underwriters - J.P. Morgan and BofA Securities are the underwriters for the proposed offering, which will be offered at market prices or negotiated prices [4] Group 4: Company Overview - Life Time operates over 175 athletic country clubs in the U.S. and Canada, focusing on health and wellness through various programs and a digital app, supported by over 42,000 professionals [7]