Life Time Closes on $90 Million Sale-Leaseback Transaction
Life Time Closes on $90 Million Sale-Leaseback Transaction
CHANHASSEN, Minn., July 1, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. ("Life Time" or the "Company") (NYSE: LTH) announced that on Friday, June 28, 2024, it closed on a sale-leaseback transaction for two properties totaling $90 million in gross proceeds. This transaction brings the Company's total gross proceeds from sale-leasebacks to $130 million year-to-date. The Company is also in negotiations for additional sale-leasebacks with expected gross proceeds of $40-$65 million, which it expects to close by the end of the third quarter. Terms are similar to recent transactions.
2024年7月1日,美国明尼苏达州CHANHASSEN / PRNewswire - Life Time Group Holdings,Inc.("Life Time"或"本公司")(NYSE:LTH)宣布于2024年6月28日星期五完成两个资产(总额达9000万美元)的出售和租回交易。此交易使公司截至目前年度总收入累计增至1.3亿美元。公司还在谈判额外的出售租回交易,预计募集资金将达到4000万至6500万美元,并计划在第三季度末完成。此次交易的条款与最近交易类似。
The majority of the proceeds from this transaction will be used to reduce debt and accelerate the timing for the Company to achieve its priority of a net debt-to-Adjusted EBITDA leverage ratio under 3 times. The continued strong financial performance of the Company's business will be more than sufficient to cover the incremental rent expense from these transactions.
此次交易的主要收入将用于降低债务并加快公司实现净债务/调整后EBITDA杠杆率低于3倍的优先事项的时间。公司业务持续强劲的财务表现将足以支付额外的租金支出。“即使没有这些出售租赁回租款项,我们很高兴地宣布我们在第二季度将交付正面的自由现金流,”创始人,主席和首席执行官Bahram Akradi说。 “这些出售租赁回租交易将进一步支持我们正朝着早于预期将净负债/调整后EBITDA杠杆率降至3倍以下,同时我们有信心在继续提供正面的自由现金流的情况下将收入和调整后的EBITDA增长低两位数。”
"We are excited that we are on track to deliver positive free cash flow in the second quarter even without the proceeds from these sale-leasebacks," said Life Time Founder, Chairman, and CEO, Bahram Akradi. "These sale-leaseback transactions will additionally support the great progress we are making towards reducing our net debt-to-Adjusted EBITDA leverage ratio to under 3 times sooner than expected, and we are confident that we will grow our revenue and Adjusted EBITDA by low double digits while continuing to deliver positive free cash flow."
本新闻稿中包含根据联邦证券法规定的“前瞻性声明”。本新闻稿中的前瞻性陈述包括但不限于公司的计划,战略和前景,包括其2024年的优先事项,增长,资产负债表的改进,净负债和杠杆率,自由现金流,租金支出以及成功签署和完成出售租赁回租交易(其中包括其金额,定价和时间)。这些陈述都是基于公司管理层的信念和假设。前瞻性陈述天然面临风险,不确定性和假设。一般来说,不是历史事实的陈述,包括有关公司可能或假定的未来行动,业务策略,事件或营运结果的陈述,都是前瞻性陈述。这些陈述可能在其前面,后面或中间包含“相信”,“预期”,“估计”等相似的表达。此外,任何引用对未来事件或情况的预期,信念,计划,投影,目标,业绩或其他特征的声明或信息,包括任何基础假设,都是前瞻性陈述。这些重要因素可能导致实际结果与本新闻稿中包含的前瞻性陈述不同。这些重要因素包括,但不限于,与我们的业务运营和竞争和经济环境有关的风险,与我们品牌有关的风险,与我们业务增长有关的风险,与我们技术运营有关的风险,与我们资本结构和租赁义务有关的风险,与我们人力资本有关的风险,与法律合规和风险管理有关的风险以及与拥有我们普通股票的风险以及其他重要因素,该因素将在2023年12月31日结束的公司《10-K年报》中的费用下的标题“风险因素”中予以讨论。在文件编号001-40887的证券交易委员会(“SEC”)于2024年2月28日提交。由于这些因素可能会在公司的其他提交文件中不时更新,因此这些和其他重要因素可能导致实际结果与本新闻稿中的前瞻性陈述的指示不同。公司在本新闻稿中做出的任何前瞻性声明仅适用于声明之日。除法律要求外,公司没有任何义务更新或修订本新闻稿中任何前瞻性陈述,或公开宣布任何前瞻性陈述的更新或修订,无论是因为新信息,未来事件还是其他任何原因。
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of more than 170 athletic country clubs across the United States and Canada. The health and wellness pioneer also delivers a range of healthy way of life programs and information via its complimentary Life Time Digital app. The Company's healthy living, healthy aging, healthy entertainment communities and ecosystem serve people 90 days to 90+ years old and is supported by a team of more than 39,000 dedicated professionals. In addition to delivering the best programs and experiences through its clubs, Life Time owns and produces nearly 30 of the most iconic athletic events in the country.
关于Life Time
Life Time (纽交所:LTH) 通过其在美国和加拿大的170多个运动乡村俱乐部及其免费的Life Time Digital应用程序提供一系列健康之路项目和信息,以帮助人们过上健康、快乐的生活。这家健康和健身先驱还通过其健康生活、健康老化、健康娱乐社区和生态系统为90天至90岁以上的人提供支持,并由超过39,000名专业人员组成的团队提供支持。除了通过其俱乐部提供最佳的项目和体验外,Life Time 还拥有并制作了全国近30个最具标志性的运动赛事。
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities regulations. Forward-looking statements in this press release include, but are not limited to, the Company's plans, strategies and prospects, both business and financial, including its priorities for 2024, growth, improvements to its balance sheet, net debt and leverage ratio, free cash flow, rent expense, and successful signings and closings of sale-leaseback transactions (including the amount, pricing and timing thereof). These statements are based on the beliefs and assumptions of the Company's management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning the Company's possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
前瞻性声明
本新闻稿包括根据联邦证券法规制定的前瞻性陈述。本新闻稿中的前瞻性陈述包括但不限于所有商业和财务方面的公司计划,策略和前景,包括其在2024年的优先事项,增长,改进资产负债表,净负债和杠杆率,自由现金流,租金支出,成功签署和完成出售租赁回租交易(包括其金额,定价和时间)。这些陈述基于公司管理层的信念和假设。前瞻性陈述天然面临风险,不确定性和假设。一般来说,不是历史事实的陈述,包括有关公司可能或假定的未来行动,业务策略,事件或营运结果的陈述,都是前瞻性陈述。这些陈述可能在其前面,后面或中间包含“相信”,“期望”,“预计”,“有意”,“计划”,“估计”或类似表达。除非另有规定,否则仅在向证券交易委员会提供必要的文件时才会更新此类陈述。
Factors that could cause actual results to differ materially from those forward-looking statements included in this press release include, but are not limited to, risks relating to our business operations and competitive and economic environment, risks relating to our brand, risks relating to the growth of our business, risks relating to our technological operations, risks relating to our capital structure and lease obligations, risks relating to our human capital, risks relating to legal compliance and risk management and risks relating to ownership of our common stock and the other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on February 28, 2024, (File No. 001-40887), as such factors may be updated from time to time in the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that the Company makes in this press release speaks only as of the date of such statement. Except as required by law, the Company does not have any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
使本新闻稿中的前瞻性陈述不同于实际结果的因素包括,但不限于与我们业务运营和竞争和经济环境有关的风险,与我们品牌有关的风险,与我们业务增长有关的风险,与我们技术运营有关的风险,与我们资本结构和租赁义务有关的风险,与我们人力资本有关的风险,与法律合规和风险管理有关的风险以及证券交易委员会在2023年12月31日提交的年度报告《10-K》中予以讨论的其他重要因素费用下的标题“风险因素”(文件编号001-40887),以及随着时间的推移,公司的其他提交,哪些可以在证券交易委员会的网站www.sec.gov上访问。这些和其他重要因素可能导致本新闻稿中包含的前瞻性陈述所示的实际结果不同。公司在本新闻稿中做出的任何前瞻性声明仅适用于声明之日。除法律要求外,公司没有任何义务更新或修订本新闻稿中任何前瞻性陈述,或公开宣布任何前瞻性陈述的更新或修订,无论是因为新信息,未来事件还是其他任何原因。
SOURCE Life Time Group Holdings, Inc.
LifeTime Group Holdings, Inc.出自PRNewswire。